Bitfinex Alpha report, Bitcoin ( BTC) states that 40 percent of its supply has not moved in more than three years.
According to the Alpha report published by Bitfinex, the dormant supply in BTC has reached an all-time high. This reveals that long-term investors continue to accumulate BTC. This statistic, which was generally interpreted positively, became one of the clearest data revealing the lacklusterness in the market.
Analysts’ perspective on this situation is positive.
Bitfinex analysts said, “The peaking of the dormant supply in BTC gives the green light about the market. It also demonstrates its potential resilience to market fluctuations.” said. In addition, analysts stated that although BTC is fighting at $ 26,000, the bullish outlook continues for the long term.
Volatility in places on the BTC side is associated with many factors. Chief among these are the market cycle and the difficulties experienced in global financial markets. The inefficient summer months in terms of the crypto market and the ongoing tightening policy around the world continue to affect many data.
