Most long-term holders are still reluctant to sell BTC at current prices

Glassnode released a market report stating that the majority of long-term bitcoin investors remain reluctant to sell bitcoin at current prices and that the vast majority of holders "appear to be calmly riding the market wave." Referring to the Bitcoin Supply Last Active Indicator, which measures the percentage of bitcoin's circulating supply held over a multi-year timeframe, the analysts said that "the vast majority of bitcoin holders remain in a stable base, with the percentage of the supply held in more than one holding range slightly below all-time highs." The report added: "The vast majority of supply remains tightly held, arguably waiting for a rise in the spot price, or perhaps increased volatility as an incentive to spend."