Growth in the number of long-term bitcoin holders hits a two-year high

The growth rate of the number of long-term bitcoin holders has reached its highest level since the spring of 2021, when the BTC rate first rose to $ 64,000, Santiment analysts noted.

According to cryptocurrency experts, the growth in the number of holders — those who bet on the growth of the BTC value and keep the digital asset for a long time — may be caused by the fact that more and more traders stop trading and decide to simply keep the asset.

Santiment explained that a similar trend was previously observed between January and April 2021. During this time, the price of bitcoin increased by 120% - from $ 29,000 to a historical high of $ 64,000 at that time.

The flagship cryptocurrency managed to grow by 72.3% in just 3 months of 2023, which was the largest increase since the first quarter of 2021. At that time, BTC rose by 103.2% from January to March. The maximum value in 2023 so far has been $ 29,100, which BTC surpassed on March 30 for the first time since June 2022.

According to Santiment, during the 2021 bitcoin rally, the number of long-term BTC holders increased from about 34 million to 39 million. By the beginning of 2023, their number increased to 44 million. At present, the growth rate of the number of long-term bitcoin holders has reached a maximum, having reached 46.1 million.