NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report

Bitcoin Supply Metric Touches New All-Time High, Time For Reversal?

Scott Matherson
Scott Matherson
Last Updated: June 11, 2024 8:35 am
4 mins read
Bitcoin bull

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has been named the best performer among asset classes in 2023, but the cryptocurrency is still struggling to break new levels in its price. Despite the current bearish sentiment, many analysts have hinted and predicted a bull run in the coming months, especially as the market awaits the approval of a spot Bitcoin ETF. 

This has probably prompted many investors to hold on to their coins, as on-chain metrics have shown that the amount of Bitcoin supply idling recently reached a new all-time high. 

Unmoved Bitcoin Supply Reaches Record High

The industry expects the SEC’s approval of spot Bitcoin ETFs to ignite the next bullish run for the price of Bitcoin. Although the SEC has so far rejected a number of requests for Bitcoin ETFs, many analysts believe it will not be long until one is accepted. 

Related Reading

Litecoin price bull

Crypto Analyst Puts Litecoin Price At $84, Here’s The Timeline

2 years ago

Considering Bitcoin’s dominance of the entire crypto market capitalization, a spike in Bitcoin’s price is expected to flow into all other cryptocurrencies. As a result, investors have been keeping their holdings in expectation of a future price increase. 

Recent data has shown that 94.8% of the total Bitcoin supply has not moved in the past month, indicating a new all-time high for the metric. 

JUST IN: 94.8% of the #Bitcoin supply has not moved in the past month, a NEW ALL TIME HIGH 🚀 pic.twitter.com/bNa4MdFbKW

— Bitcoin Magazine (@BitcoinMagazine) October 10, 2023

Similarly, a recent post by on-chain intelligence platform Glassnode alerts revealed that the amount of HODLed or lost Bitcoin reached a 5-year high of 7,906,288.227 BTC.

📈 #Bitcoin $BTC Amount of HODLed or Lost Coins just reached a 5-year high of 7,906,288.227 BTC

View metric:https://t.co/dJK8rxBVD3 pic.twitter.com/6OxLnd611f

— glassnode alerts (@glassnodealerts) October 6, 2023

The overall Bitcoin net flow into exchanges has decreased by 862.42 BTC ($23.27 million) in the past 24 hours, according to chart insights provided by IntoTheBlock. While this is relatively small compared to Bitcoin’s market cap, it shows investor mood might be changing into a bullish sentiment.

Bitcoin supply metric

Source: IntoTheBlock

Time For Reversal?

Bitcoin’s price just rebounded up to $27,100 after failing to gain traction above the $27,800 resistance in the midst of escalating Israel-Hamas tensions in the Middle East. Despite this, BTC still remains the best-performing investment asset this year, outperforming stocks and bonds with its year-to-date (YTD) return of 63.3%.  

Related Reading

Altcoins

Crypto Analyst Identifies 6 Overlooked Altcoins That Could Be Due For A Price Surge

1 year ago

Some investors view unmoved Bitcoin as a sign of solid faith in the network and adoption of a long-term mindset. Whatever the reason, Bitcoin’s unmoved supply metric is worth watching as an indicator of holder sentiment and potential future price pressure. 

Recent happenings, particularly the tension of an oncoming recession in the US, have prompted billionaire hedge fund manager Paul Tudor Jones to assert that this is the best time to buy Bitcoin. 

Bitcoin price chart from Tradingview.com (Unmoved supply)

BTC still holding above $27,000 | Source: BTCUSD on Tradingview.com
Featured image from Shutterstock, chart from Tradingview.com
Tweet123Share196ShareSend
Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum ETFs

Ethereum ETFs Record Over $600M In Outflows — Warning Signal For Traders?

The price of Ethereum endured significant selling pressure over the past week, reflecting the current climate of the crypto market....

Opeyemi Sule 10 hours ago
Bitcoin price

Analyst Explains Bitcoin Price Path To $70K: Why This Level Might Be Inevitable

The Bitcoin price looks set to end the year in the red, having produced one of its worst Q4 performances...

Opeyemi Sule 14 hours ago
Trump Voorspelt Economie In 2026, Gaat XRP Naar $100?

Trump Voorspelt Economie In 2026, Gaat XRP Naar $100?

Trump crypto uitspraken over “veel lagere rentes” en een sterkere economie in 2026 gaan opnieuw rond op X. Als markten...

Lars Diederiksen 16 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Recovery Faces Crucial Test

Bitcoin Price Recovery Faces Crucial Test at Major Resistance Zone

Aayush Jindal 19 minutes ago
Bitcoin

Bitcoin Outlook Discord: Tom Lee Breaks Down Fundstrat’s Position

Christian Encila 6 hours ago
Crypto expert voorspelt

Crypto expert voorspelt: Bitcoin $140K binnen 180 dagen door herhalend patroon

Lars Diederiksen 8 hours ago

Premium Sponsors

Press Releases

  • ミームコインと2025年最高の仮想通貨プレセール:BlockchainFXが620万ドル調達、TOKEN6900やMaxi Dogeを圧倒

    仮想通貨...

    11 hours ago
  • 仮想通貨投資注目:ビットコインが107,000ドル突破、SoFiが仮想通貨市場を活性化しNYSEがトランプETFを発表

    ico...

    11 hours ago
  • MaxiDoge Crypto

    仮想通貨...

    11 hours ago
  • MemeCoins

    ...

    11 hours ago
  • イーサリアム 今後の価格予想:クリスマス前に3,200ドル回復は実現するか

    イーサリアム...

    11 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.