Major BTC holders have amassed a record number of coins.
On-chain data has recorded a new record balance for major Bitcoin (BTC) holders. Addresses holding more than 100 coins now control 12.2 million BTC. This figure reflects growing interest in long-term holding among the largest market participants. The largest contributor to this increase was a group of addresses with balances between 100 and 1,000 coins. Their combined balance reached 5.28 million BTC, an all-time high.
According to experts, increased accumulation by large holders affects the available supply of coins in circulation. The fewer assets in free circulation, the lower the selling pressure. This reduces the liquid supply on exchanges. The current trend demonstrates a stable and consistent pattern of accumulation.
Analysts note that this trend has become an important indicator of large investors' behavior. The persistence of the accumulation pattern demonstrates interest in holding BTC coins in the medium term. This activity reduces the likelihood of sharp sell-offs. It may also reflect a high level of holders' confidence in current market conditions.
Additionally, experts studied the Bitcoin network using the NVT Golden Cross metric. It compares the asset's market capitalization with its actual transaction volume and is used to assess how expensive or cheap BTC is relative to on-chain activity. A reading above 2.2 indicates a potential local peak. A reading below -1.6 indicates potential oversold conditions.
Current data shows the NVT Golden Cross falling below its most recent level. This means BTC is undervalued. This signal doesn't guarantee an immediate price reversal. However, it does reflect a situation where demand for network usage remains stable even as the coin's price falls. This creates the conditions for stabilization.
Source: cryptonews.net
