Bitcoin HODLers Not Selling, Will Number Break Record Highs?

• Glassnode data shows that the percentage of Bitcoin supply held by long-term holders is close to an all-time high of approximately 76%.
• This increase in long-term holders could indicate a positive shift in sentiment.
• Long-term holders are individuals or organizations that have kept their coins for at least 155 days.
• Long-term holders can support crypto prices by removing coins from circulation.
• Bitcoin is inherently deflationary, with only 21 million coins ever to circulate.
• MicroStrategy is a publicly traded company holding the largest amount of Bitcoin, followed by Satoshi Nakamoto.
• Bitcoin has recovered around 10% from September lows, but the path of least resistance is still bearish.
• Bitcoin prices are currently within the June to July 2023 trade range, with a medium-term buy target of $31,800.

The article discusses the increase in Bitcoin held by long-term holders, which could indicate a positive shift in sentiment. It also mentions the recovery of Bitcoin prices, with bulls gaining momentum. However, it notes that the path of least resistance is still bearish.