Bitcoin has experienced a bullish trend in 2022, which is reflected in the number of BTC held in storage. Savings or long-term storage of Bitcoin reached a new record in early February as holders anticipate a return to pre-2022 price levels.
49% Of Bitcoin In Long-Term Holdings
According to data from analytics firm Glassnode, 49% of the total Bitcoin supply has stayed in the same wallet for more than two years. This is equivalent to more than 9.45 million Bitcoins or about $220 billion at the time of writing.
Glassnode further explained this trend with a graph that shows the previous peak came in the last quarter of 2020 and the beginning of 2021. The peak ended during the bull market of 2021 because holders began selling as the price of BTC went up.
After the massive dip in the value of Bitcoin, the indicator dipped and remained…
