Bitcoin ‘tourists’ have been purged, only hodlers remain: Glassnode
— Aggressive rate, Glassnode concluded, Continues, Speculative entities, Hodlers, Main body, Price, Approaching, Bear — 1 min read
Bitcoin lost 37.9% in June, one of its worst-performing months in 11 years. Analysts say'market tourists' are fleeing from Bitcoin, leaving only long-term investors. Shrimps are accumulating 60,500 BTC per month, equivalent to 0.32% of the BTC supply per month. Number of active addresses and entities have seen a downtrend since November 2021, implying new and existing investors alike are not interacting with the network. The transaction count remains “stagnant and sideways,” which indicates a lack of new demand but also means holders are being retained through the market conditions, Glassnode says. The number of addresses with a non-zero balance continues to hit all-time-highs. Source