On-Chain Metrics Flashing Crypto Market Bottom Signals, but the Macro Environment Is Still Wobbly: IntoTheBlock

On-Chain Metrics Flashing Crypto Market Bottom Signals, but the Macro Environment Is Still Wobbly: IntoTheBlock


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.

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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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