Swan’s Cory Klippsten sees record Bitcoin holder supply revealing early bottom
The record Bitcoin supply held by long-term holders may suggest that the crypto market bottom will come early, according to Swan’s Cory Klippsten.
The Bitcoin holding level of long-term investors has reached a record high of 14.7 million Bitcoin, which could suggest that the crypto market bottom will come early, according to Cory Klippsten, CEO of Swan Bitcoin.
“We’re at an all-time high of BTC held in addresses of long-term holders,” Klippsten told Cointelegraph in an interview, which he said has “marked cycle lows historically.”
Bitcoin (BTC) supply held by long-term holders reached 14.7 million BTC on Wednesday, an all-time high that “signals continued conviction” among seasoned investors, according to crypto analytics platform Glassnode.