Glassnode said in its weekly on-chain report that flagged large entities currently hold around 4.90 million bitcoins, equivalent to 25% of the supply in circulation. Of these entities, CEX and ETF custodians account for the largest proportion.
After the German government sold all of its bitcoin holdings, there appears to be a short-term relief from sellers and a renewed inflow of demand to support the market.
Market profitability remains very strong, and most bitcoin supply remains on a favorable cost basis, below current spot prices.
Glassnode: Large entities currently hold around 4.90 million bitcoins, representing 25% of the circulating supply
2024-07-16 14:43:01
Glassnode weekly chain report indicated in marked large entity current currently helddesk3cryptocurrencydesktopCrypto News
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