On-chain data shows that long-term Bitcoin holders have recently increased their dominance, suggesting a rise in HODLing conviction. This indicates that more investors are choosing to hold onto their Bitcoin rather than sell it in the short term.
According to CryptoQuant author Axel Adler Jr, the supply of long-term holders has been going up. This trend is a positive signal for Bitcoin as it demonstrates growing confidence among the cryptocurrency's long-term investors.
The rise in long-term holders' supply may have implications for the future price movement of Bitcoin, as reduced short-term selling pressure can lead to price stability and potential appreciation.
