CryptoQuant: 50% of long-term Bitcoin supply is in an "inactive" state, which may indicate further price increases

ChainCatcher news, Bitfinex stated in a report on Monday that the decline in Bitcoin since March may be due to selling by long-term holders. However, blockchain data shows that this trend has stalled, and investors are accumulating Bitcoin.

On Tuesday, on-chain analysis company CryptoQuant reported that 50% of the long-term Bitcoin supply is "inactive," with no changes or fluctuations in the Bitcoin holdings of the wallets they track. This is considered a strong long-term holding signal, which may indicate further price increases.

Therefore, the sentiment surrounding Bitcoin's continued growth remains "stubbornly bullish," and QCP Capital also noted an increase in trading activity.