Given that the downtrend lasts for months, it was only a matter of time before a market survey emerged that would inform the rising number of long-term holders in the market at a certain BTC price level. That day is here, as the latest report from Glassnode has surfaced, offering some insights into developments over the past few months. While in the midst of market turbulence, many short-term holders of BTC, also known as “Bitcoin tourists” are selling the asset, the number of new wallets is constantly growing, which means that long-term holders or even “HODLers” are buying the asset.
In other words, the ownership of so-called whales, or those who hold more than 1,000 BTC, has increased. However, the number of investors with less than one BTC has also increased, as they feel that now is the chance to buy a “dip”, since it is significantly lower than at ATH. The number of BTC wallets that have at least some balance on them is reaching new historical highs. There are currently 42.3 million addresses, which means that despite the difficult downtrend, interest in digital assets is growing.