That’s probably because there are a lot of people who bought in at ATHs (because that’s when most people buy Bitcoin), and now don’t want to sell because Bitcoin has dropped a bit.
This is not a good thing. These are the people at the bottom of the Bitcoin pyramid scheme who are going to be screwed when Bitcoin crashes back down.
KIG45 on
This is the way
hblok on
So Saylor’s wallet?
coinfeeds-bot on
tldr; Bitcoin accumulator addresses, which only buy and never sell, have reached a record level, holding over 266,000 BTC as of September 5. This trend underscores growing confidence in Bitcoin as a long-term store of value. However, Galaxy Digital warns of a structural weakness in Bitcoin’s fee market, with declining transaction fees threatening miner incentives and network security. Renewed on-chain demand is crucial for sustainability. Bitcoin’s price trajectory is being closely watched for signs of a bullish reversal.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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That’s probably because there are a lot of people who bought in at ATHs (because that’s when most people buy Bitcoin), and now don’t want to sell because Bitcoin has dropped a bit.
This is not a good thing. These are the people at the bottom of the Bitcoin pyramid scheme who are going to be screwed when Bitcoin crashes back down.
This is the way
So Saylor’s wallet?
tldr; Bitcoin accumulator addresses, which only buy and never sell, have reached a record level, holding over 266,000 BTC as of September 5. This trend underscores growing confidence in Bitcoin as a long-term store of value. However, Galaxy Digital warns of a structural weakness in Bitcoin’s fee market, with declining transaction fees threatening miner incentives and network security. Renewed on-chain demand is crucial for sustainability. Bitcoin’s price trajectory is being closely watched for signs of a bullish reversal.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.