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45% of Bitcoin Supply Hasn't Moved in 6 Months, Research Shows

Nearly half of Bitcoin's supply has remained inactive for six months, with long-term holders (LTHs) showing strong commitment despite market volatility, according to Glassnode's latest data.

• Main Points:

  • 45% of Bitcoin Supply Dormant: Nearly half of BTC hasn't moved in six months.

  • Long-Term Holders: LTHs continue to hold, avoiding selling during price highs.

  • Distribution Pressure: LTHs are reducing sell-offs, and stabilizing the market.

  • Market Volatility Concerns: Despite fears of market lows, long-term holders are holding firm.

• Detailed Insights:

  • 45% of Bitcoin Supply Dormant: Onchain data confirms that 45% of Bitcoin's supply has not been moved in half a year.

  • Long-Term Holders: Many LTHs held their coins through both the all-time high and subsequent volatility, preferring not to sell.

  • Distribution Pressure: Recent trends show fewer LTH sell-offs, with their holdings growing once again after stabilizing.

  • Market Volatility Concerns: Despite recent sell-offs and fears of further price drops, LTHs remain confident in holding Bitcoin.

  • Optimism Amid Liquidity Growth: Some believe rising global liquidity could positively impact Bitcoin’s future.

Related: Satoshi to Lose Status as Biggest Bitcoin Holder This Year

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FBI Responds to Inquiry About Bitcoin Creator Satoshi Nakamoto

The FBI has responded to a FOIA request regarding the identity of Bitcoin's creator, Satoshi Nakamoto, stating they cannot confirm or deny any information about Nakamoto's existence.

• Main Points:

  • FBI's Response: Stated that Satoshi could be one or more individuals but cannot confirm details.

  • Dave Troy's Appeal: Tech entrepreneur Dave Troy plans to appeal for more information on Satoshi's identity.

  • Satoshi's Identity Remains a Mystery: Various candidates, including Hal Finney, have been suggested, but no concrete evidence exists.

  • Bitcoin Holdings Shift: Satoshi may soon lose the title of largest Bitcoin holder to U.S. ETFs.

• Detailed Insights:

  • FBI's Response: The FBI's statement claims Satoshi Nakamoto could be a group but provides no confirmation or new details.

  • Dave Troy's Appeal: Troy seeks more information from the FBI, although identifying Satoshi isn’t his primary goal.

  • Satoshi's Identity Remains a Mystery: Theories and candidates, like Hal Finney, persist, but no definitive proof has emerged.

  • Bitcoin Holdings Shift: With BlackRock leading the charge, Satoshi's estimated 1.1 million Bitcoin may be surpassed by U.S. ETFs.

  • Conspiracy Theories: Unfounded claims link Satoshi to agencies like the CIA, fueling further speculation.

Related: Mixed Fortunes for U.S. Ethereum ETFs: BlackRock and Fidelity Lead Amid Market Shifts

US Treasury’s $1 Trillion Injection Could Push Bitcoin to $100,000

Arthur Hayes, co-founder of BitMEX, predicts that a $1 trillion liquidity injection from the U.S. Treasury could drive Bitcoin to at least $100,000 by the end of 2024.

• Main Points:

  • $1 Trillion Injection: The U.S. Treasury may inject $1 trillion into the market to boost the economy.

  • Bitcoin Surge: Liquidity could push Bitcoin past its all-time high of $73,700.

  • Altcoin Rally: Altcoin season could follow, with Solana predicted to rise by 75%.

  • Political Influence: The move is seen as a strategy to strengthen the economy before the election.

• Detailed Insights:

  • $1 Trillion Injection: The U.S. Treasury will inject liquidity into the market via bond issues and the Treasury General Account.

  • Bitcoin Surge: Hayes predicts Bitcoin will hit $100,000 as liquidity increases in 2024.

  • Altcoin Rally: Altcoins like Solana could rally once Bitcoin breaks $70,000.

  • Political Influence: The injection is seen as a strategy to boost the economy ahead of the U.S. elections.

  • Liquidity Pathways: Treasury plans to issue bonds and spend from its general account, injecting between $301 billion to $1 trillion.

Related: Mark Cuban's Advice: Invest 10% in High-Risk Ventures, But Be Ready to Lose It

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results