The indicator of long-term bitcoin holders indicates a new BTC rally.
A new Glassnode report has shown that the indicator of long-term holders of bitcoin has reached a multi-year high, while the market does not demonstrate profit-taking, and long-term investors are increasing their positions.
Analysts also pointed out that the total supply of short-term holders is at a multi-year low - below 3 million BTC, which, in turn, means that the amount held by long-term holders is at a multi-year maximum.
