Bitcoin held in long-term holder wallets has topped $10 billion amid its price falling below $60,000.
Long-term Bitcoin holders have, in total, spent a milestone $10 billion to buy the cryptocurrency and have been pulling back from selling as its price retreats to its 2021 all-time highs, says an analyst.
“For the first time ever, the realized capitalization of long-term holders has exceeded $10 billion,” CryptoQuant contributor Amr Taha said in an Aug. 27 post.
The realized cap takes into account the price at which each Bitcoin (BTC) was last sold. It’s realized cap is “often compared to Market Cap to get a sense of the overall market vibe,” according to crypto analytics firm Bitbo.
