Bitcoin's Bull Run in Early Stages as Major Holders Rapidly Accumulate, Says Bloomberg Analyst

08/07 08:55

According to Bloomberg analyst Jamie Coutts, major holders are rapidly accumulating Bitcoin, indicating that the bull run is just beginning. Long-term investors, or "residents," now hold 74.8% of the entire Bitcoin supply, with 30% of Bitcoin moved to cold storage since 2020. On-chain activity has also increased, with transactions averaging four times the 2021/22 average of 100,000 per day. Despite these positive trends, Bitcoin's volatility is currently at an all-time low, which may be a welcome respite for investors after the roller coaster ride that Bitcoin has often been associated with.

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