Home Analysis Long-term Bitcoin holders sell nearly 50K BTC – marking 2023 high

Long-term Bitcoin holders sell nearly 50K BTC – marking 2023 high

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long term Bitcoin (BTC) holders almost sold 50,000 BTC on May 15 set a record for such sales of the year.

This measure represents the resurrected supply, or the supply of Bitcoin that has returned to circulation pristine.

Addresses holding bitcoin for over a year sold 18,000 BTC on May 15, while addresses holding bitcoin for over two years sold 17,000 BTC. He sold 17,000 BTC to an address that held Bitcoin for over 3 years.

Revived Supply: (Source: Glassnode)

Bitcoin has seen a resurgence in supply over the past few months. Notably, in November 2022, the supply of 110,000 BTC and 95,000 BTC was revived, recording sales of $2 billion and $1.6 billion, respectively. Bitcoin will also resume supply of 100,000 BTC in June 2022, equivalent to approximately $2.4 billion in sales.

Today, the market value of Bitcoin is higher than it was then, with the recently revived supply (50,000 BTC) worth over $1 billion. Therefore, in terms of dollar value, it is close to the amount of past resurrection.

The Post Long-Term Bitcoin Holders Sell Nearly 50,000 BTC – Marks 2023 Highs first appeared on CryptoSlate.

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