Glassnode: Currently long-term Bitcoin holders will have a greater impact on its supply dynamics
Glassnode analyst Marcin Miłosierny said that the purchasing power of Bitcoin ETFs will overwhelm the traditional supply tightening effect expected by Bitcoin halving. The momentum caused by ETFs requires traders to react, and Bitcoin traders need to balance the historical impact of halvings and The impact of contemporary ETFs on BTC supply and price in the upcoming cycle.
Taking into account recent developments, Miłosierny believes that Bitcoin is entering a stage where long-term holders will have a greater influence on BTC supply dynamics, and he believes that traders should monitor long-term holder market inflation rates to accurately predict the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meme and AI token indices plummet 50% from December peaks while US and DeFi indices show resilience
The GMMEME and GMAI indices, for example, are down nearly 60% from their peaks in December.The following is an excerpt from The Block’s Data and Insights newsletter.
Could Litecoin Be the Next Big Runner? $1.5 Billion Volume Pushes LTC Up 12%
Litecoin ($LTC) has been propelled to the forefront of the altcoin market with rumours of an ETF approval.
Why Is Stellar Dropping? XLM Turns Red as Market Shifts – What’s Next?
Stellar has been trading within a bullish flag pattern since the end of January, suggesting that it could stage a breakout very soon.
Pepe Coin Crashes 65% but Traders Predict a Shocking 110% Rebound
Pepe (PEPE) shows signs of an upcoming trend reversal that could produce gains of over 100%
Trending news
MoreCrypto prices
More
