- HODLed Bitcoin hits 5-year high at 7,905,007.001, reflecting growing investor confidence.
- BTC’s recent 4% price increase aligns with the rise in long-term HODLing.
- Strong HODLing activity may contribute to price stability and positive sentiment among Bitcoin investors.
The world of cryptocurrencies is an unpredictable one. Given the price fluctuations of Bitcoin, it does not come as a shock that the amount of HODLed or Lost Coins for Bitcoin (BTC) has managed to reach a 5-year high of 7,905,007.001. According to Glassnode, the last 5-year high was observed at 7,904,990.449 BTC on 04 October 2023. Let’s take a deeper look at these figures.
When it comes to understanding the market, it becomes imperative to be familiar with terms like HODLers. These are, basically, long-term Bitcoin investors who hold their coins rather than trade them.
Of late, there has been a drastic increase in the number of HODLed Bitcoins, probably due to increased investor confidence and reduced selling pressure. It is also important to note here that the current price of Bitcoin is at $27,709, and it has experienced a 4% increase in the last seven days.
Now, we can see that this price movement is critical to the HODLing trend and suggests that strong HODLing activity may contribute to price stability and potential upward momentum. Also important to note is that this data reflects the sentiment and confidence of Bitcoin investors.
In this scenario, long-term HODLing indicates faith in the cryptocurrency’s future value and utility. All in all, the growing HODLing trend, the 5-year high in HODLed Bitcoins, and Bitcoin’s recent price surge is an exciting watch. As positive sentiment and confidence in Bitcoin’s future among investors increases, it will be important to keep an eye out for the trends.