Bitcoin: Long-term holders can influence BTC price in this way

Whale activity around BTC remained high, and a few metrics were bullish.supply distribution looks fascinating as investors continue to redistribute their holdings. The confidence of long term holders in the king of cryptos has reached its highest level, which was evident from the latest data. However, investors were doubtful about Centralized Exchanges as BTC’s exchange reserve plummeted.

Is it a sign of increased accumulation, or were investors choosing alternatives like Decentralized Exchanges to store their holdings?As per Bitcoin magazine’s latest tweet, the supply held by Bitcoin’s long-term holders just reached a new all-time high. The metrics clearly revealed the faith investors had in BTC, as they expect the coin’s price to boom again over the coming months and years.

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