Market intelligence platform IntoTheBlock says that even though on-chain data is hinting at a bear market bottom for crypto assets, the overall macro environment is still shaky.
In a new article, the crypto analytics firm finds that the number of long-term Bitcoin (BTC) holders, or traders who have owned BTC for at least a year, burgeoned in 2022, noting the investor class is known for purchasing the king crypto during bear markets and creating a support level.
“HODLers supporting a bottom – long-term Bitcoin holders historically take advantage of bear markets to buy Bitcoin.
In 2022 we saw the amount of Bitcoin owned by addresses holding for over one year (‘hodlers’) increase by 50% from 10 million BTC to 15 million BTC. This pattern
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