Bitcoin hodling activity resembles previous market bottoms

Blockchain analytics firm Glassnode said most bitcoins have been on hold for at least three months, bearing a striking resemblance to previous bitcoin market bottoms.

In a tweet on July 16, Glassnode noted that more than 80% of the total US dollar (USD) assets invested in Bitcoin have not been touched for at least three months. This indicates that most of the BTC coin supply is idle and hodlers are increasingly reluctant to spend at low prices.