Bitfinex has released its latest report, stating that over 68.45% of the total Bitcoin supply, which amounts to approximately 13.27 million out of the existing 19.4 million BTC, has not been moved in the past year.
This growing trend among investors who strongly hold onto the currency demonstrates a shift in attitude towards Bitcoin ownership.
Another significant indicator supporting the prevailing trend of long-term accumulation is the number of ‘Wholecoiner’ addresses surpassing one million this week.
These Wholecoiners can be defined as entities or individuals who possess at least one whole BTC and constitute a substantial segment of the Bitcoin community.
Data indicates that these investors have been gradually accumulating since mid-2021, with no notable reversal in the upward trajectory of 1-BTC wallets since then.
The trend became even more pronounced in 2022 when the market experienced a downturn, resulting in a 20% increase in this cohort.
Bitfinex reaffirms its previous analysis suggesting that Bitcoin may be in the early stages of a bull market.
