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Analysts at crypto exchange Bitfinex have noticed a significant shift toward spot trading for Bitcoin, resulting from long-term BTC holders persisting in their accumulation strategy amid unfavorable market conditions., long-term holders now have 80.34% of the total bitcoin supply, accounting for 15 million BTC. In comparison, assets with short-term holders have fallen to 19.34%. Analysts said this indicated a strong commitment to holding assets.
“Given these current levels, which are markedly lower than the last cycle’s profit and loss figures, the majority of coin transactions are occurring around their original cost basis. This paints a picture of a market where the dominant players are either seasoned holders who are indifferent to price changes or traders scrambling for a slightly advantageous position,” Bitfinex said.
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