BTC Hodler Net Position Change Hits 1-Month High, Here’s Why It May Be Good for BTC

BTC Hodler Net Position Change Hits 1-Month High, Here’s Why It May Be Good for BTC

On-chain data analytics company Glassnode has tweeted that the Bitcoin HODLer Net Position Change index has reached a major high of 24,906.171. Meanwhile, the Bitcoin supply last moved over ten years ago, has hit a new all-time high.

Long-term hodlers grabbing more Bitcoin

The on-chain data provider says that this metric is about long term Bitcoin investors (HODLers) and it tracks their position change regarding Bitcoin on a monthly basis. When the metric goes negative, this is indicative of hodlers selling their BTC and withdrawing their profits.

When the net position change of hodlers goes up, this means long term investors are opening new positions in Bitcoin.

📈 #Bitcoin $BTC HODLer Net Position Change just reached a 1-month high of 24,906.171View metric:— glassnode alerts (@glassnodealerts) August 28, 2021

New investors coming in, while 10-year wallets keep hodling

Glassnode has shared another tweet recently, which says that the Bitcoin ecosystem is seeing new investors arriving actively as the number of non-zero wallets has surged to a one-month high and now amounts to 38,241,875 addresses.

As per another message from the analytics firm, the amount of Bitcoin last moved more than ten years ago has reached an all-time high of a whopping 2,300,284.993 BTC.

This amount of Bitcoins is worth as much as $112,360,592,377 at the time of writing, while the leading digital asset is trading at $48,837, as per the chart from CoinMarketCap.

📈 #Bitcoin $BTC Amount of Supply Last Active > 10y just reached an ATH of 2,300,284.993 BTCView metric:— glassnode alerts (@glassnodealerts) August 27, 2021