Yahya 
Based on recent onchain statistics from Glassnode, at least 75% of all Bitcoin in circulation has remained stationary for at least six months. Though a 21% down from its all-time high earlier this year, this noteworthy figure highlights the growing trend among long-term holders, or “HODLers,” who see Bitcoin as a wealth store.
From only one week ago, when barely over 45% of the BTC supply had been inactive for at least six months, the data—shown in Glassnode’s Hodl Wave chart—showcases a startling increase. Rising to 74% suggests long-term investors clinging to their Bitcoin, maybe in hope of further price increases.
The accumulated and holding of Bitcoin by long-term holders reduces the availability for trading. Should demand increase while the easily available supply declines, this shortage might drive price increases.
Still, the image is not absolutely good. According onchain analyst James Check revealed on Aug. 19, over 80% of Bitcoin held by short-term investors—those who have retained the currency for fewer than 155 days—is now underwater, meaning these buyers paid more than the going market price. This brings to me past cycles when panic selling by short-term holders led to further market disasters.
The overall market attitude is still cautious given the Bitcoin concern and greed index score of 28, which suggests anxiety. Not seen since December 2022 this degree of worry. Reflecting the ongoing volatility in the market, Bitcoin’s price fell from temporarily hitting $60,000 over the weekend to $58,900 at the time of writing.
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