Bitcoin on-chain data confirms that $30,000 is a significant point of interest for BTC accumulation, according to crypto analytics firm Glassnode. The data shows that a record amount of BTC changed hands near the current spot price, indicating strong demand for the cryptocurrency. Additionally, Glassnode’s Hodled or Lost Coins metric reveals that old hands are holding onto their BTC and not selling, with 7.77 million BTC currently considered “hodled or lost.” This reinforces the idea that a large portion of Bitcoin’s supply may be locked from circulation forever. Overall, these on-chain indicators suggest that a “big move” may be coming for Bitcoin.
