Bitcoin Owners: 21.5% Of Them Are HODLers, Analysis Shows

An independent research by the company Delphi Digital revealed that Bitcoin owners are unmoved by the recent bullish run. The report also states that almost 21.5% of the holders keep their BTC in circulation despite the ups and downs on the market.

This, as many best cryptocurrency news sites noted, is a sign of confidence, especially now that the bulls are cooling off in a correction. Meanwhile, Bitcoin is leading with another market wide rally which put the market in green, lifting BTC by 5% to a new level at $10,800 at press time.

Aside from the Bitcoin owners statistic, the research by Delphi Capital shows that the same volatility tick traders, wealthy investors and fund managers are all funnelling their stashes to Bitcoin. The timely entries could lead to extraordinary gains, as said, while on the other hand buying the asset without any safety net could mean deep losses.
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What is attractive at this point is Bitcoin’s stability. Reports in the coming altcoin news show that it is BTC which leads the market to new greens (just like this one today). Secured by a pitch perfect distribution as well as decentralization, the network is robust and currently impervious.

Even sixty percent of all BTC, as per an analysis of UTXO (Unspent Transaction Output) are yet to be moved in the previous year, the results pointing to Bitcoin owners show. The research company said that recent price swings also attracted new sellers. Outflows through to June also increased the revealing that coin owners may be moving their stash offline in readiness of holding.

Bitcoin owners are in the driving seat, the latest cryptocurrency news show. Even though it is still early to draw conclusions, the dip below $9,500 scared a lot of people but now that Bitcoin is back on track, a new bullish run is possible and new gains on the market are apparently a close reality.

The BTC move will confirm the double bar bear reversal pattern of June 26 and 27, as price action seeks to strike equilibrium following the over-pricing of June 26. This is when the prices spiked, closing above the upper Bollinger Band (BB) complete with signing trade volumes that are making a climax.

Overall, the sentiment of the market is shifting and the bears may reverse the gains.