The bitcoin supply controlled by long-term holders has dropped by 61,500 BTC since Nov. 6, according to Glassnode data. reports godbole17
The change in stance is notable because the investors weren't fazed in the third quarter even as macro traders left the market,
The total amount of circulating supply owned by long-term holders has declined by 61,500 BTC since Nov. 6, marking a shift away from accumulation observed between the end of June and early November, data published by Glassnode show. According to digital assets data provider Amberdata, FTX's implosion will have many consequences, including the"potential demonization of crypto space politically and a daisy chain of balance sheet capital short-falls for various institutions." Some analysts studying chart patternsLong-term holders are distributing coins for the first time since the end of June.
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