{"id":32848,"date":"2020-12-04T15:57:29","date_gmt":"2020-12-04T13:57:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32848"},"modified":"2025-08-28T10:46:13","modified_gmt":"2025-08-28T07:46:13","slug":"bitcoin-investors-pull-3-6-billion-from-long-term-storage","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-investors-pull-3-6-billion-from-long-term-storage\/","title":{"rendered":"Bitcoin investors pull $3.6 billion from long-term storage"},"content":{"rendered":"<p>The share of Bitcoin&#8217;s circulating supply that had not moved for more than a year fell by 1%, or $3.6 billion, as the price of digital gold rose in November, according to Unchained Capital, citing the HODL Waves indicator.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Nearly 1% of the total supply of <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> moved out of long-term storage (>1 year in the same address) during the price run-up from $13,700-$19,670 in November.<\/p>\n<p>61.43% of the supply of bitcoin has not moved in >1 year. <a href=\"https:\/\/twitter.com\/hashtag\/HODLwaves?src=hash&#038;ref_src=twsrc%5Etfw\">#HODLwaves<\/a>, h\/t <a href=\"https:\/\/twitter.com\/glassnode?ref_src=twsrc%5Etfw\">@glassnode<\/a> <a href=\"https:\/\/t.co\/by2nmlXQIJ\">https:\/\/t.co\/by2nmlXQIJ<\/a> <a href=\"https:\/\/t.co\/WPrserjaSN\">pic.twitter.com\/WPrserjaSN<\/a><\/p>\n<p>\u2014 Unchained Capital (@unchainedcap) <a href=\"https:\/\/twitter.com\/unchainedcap\/status\/1334586322711961603?ref_src=twsrc%5Etfw\">December 3, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The change in the indicator suggests likely profit-taking by some long-term investors. The overall trend remains upward \u2014 since the start of the year the indicator has risen from 39% to 44%, which points to a decline <span class='old_tooltip' data-descr=\"The tendency of economic agents to prefer consumption now over the distant future.\">time preference<\/span> among market participants.<\/p>\n<div id=\"attachment_118625\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-118625\" class=\"size-large wp-image-118625\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/12345-11-1024x617.png\" alt=\"Bitcoin investors pulled $3.6B from long-term storage\" width=\"1024\" height=\"617\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/12345-11-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/12345-11-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/12345-11-768x463.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/12345-11.png 1044w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-118625\" class=\"wp-caption-text\">Bitcoin price and the share of coins that have not moved for more than two years. Data: Glassnode.<\/p>\n<\/div>\n<div id=\"attachment_118624\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-118624\" class=\"size-large wp-image-118624\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-36-1024x542.png\" alt=\"Bitcoin investors pulled $3.6B from long-term storage\" width=\"1024\" height=\"542\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/11-36-1024x542.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/11-36-300x159.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/11-36-768x407.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/11-36.png 1160w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-118624\" class=\"wp-caption-text\">HODL waves dynamics from Unchained Capital.<\/p>\n<\/div>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ZvoQ6Hg3Jh\">\n<p>HODL-\u0432\u043e\u043b\u043d\u044b \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u2014 \u043d\u043e\u0432\u044b\u0439 \u0438\u043d\u0441\u0442\u0440\u0443\u043c\u0435\u043d\u0442 \u0430\u043d\u0430\u043b\u0438\u0437\u0430 \u0434\u0430\u043d\u043d\u044b\u0445<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"HODL waves of Bitcoin \u2014 a new data-analysis tool\" src=\"https:\/\/u1f987.com\/exclusive\/hodl-volny-bitkoina-novyj-instrument-analiza-dannyh\/embed#?secret=rFDmWMEpP7#?secret=ZvoQ6Hg3Jh\" data-secret=\"ZvoQ6Hg3Jh\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>According to Glassnode data, nearly 19.6 million Bitcoin addresses were active in November. The metric was the third-largest on record for the leading cryptocurrency \u2014 the previous peaks were recorded in December 2017 and January 2018.<\/p>\n<div id=\"attachment_118627\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-118627\" class=\"size-large wp-image-118627\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-aktivnyh-bitkoin-adresov.-Dannye-Glassnode.-1024x502.png\" alt=\"Bitcoin investors pulled $3.6B from long-term storage\" width=\"1024\" height=\"502\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-aktivnyh-bitkoin-adresov.-Dannye-Glassnode.-1024x502.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-aktivnyh-bitkoin-adresov.-Dannye-Glassnode.-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-aktivnyh-bitkoin-adresov.-Dannye-Glassnode.-768x376.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-chisla-aktivnyh-bitkoin-adresov.-Dannye-Glassnode..png 1096w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-118627\" class=\"wp-caption-text\">Dynamics of the number of active Bitcoin addresses. Data: Glassnode.<\/p>\n<\/div>\n<p>In November, the broader trend of shrinking balances on centralized exchanges (CEX) continued. Over the month, the figure fell by 3%, and since the start of the year by 17%.<\/p>\n<p>As of December 1, 12.94% of the total Bitcoin supply was held on centralized exchanges.<\/p>\n<div id=\"attachment_118628\" style=\"width: 1016px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-118628\" class=\"size-full wp-image-118628\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance..png\" alt=\"Bitcoin price and the dynamics of centralized exchange balances. Data: Glassnode, Yahoo Finance.\" width=\"1006\" height=\"611\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance..png 1006w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-300x182.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-768x466.png 768w\" sizes=\"auto, (max-width: 1006px) 100vw, 1006px\" \/><\/p>\n<p id=\"caption-attachment-118628\" class=\"wp-caption-text\">Bitcoin price and the dynamics of centralized exchange balances. Data: Glassnode, Yahoo Finance.<\/p>\n<\/div>\n<p>On November 24, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-breaks-above-19000\">rose for the first time in 2020<\/a> above $19,000. On the subsequent correction, <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-sinks-below-17000\">prices fell below $17,000<\/a>.<\/p>\n<p>On November 30, the price of the leading cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-hits-all-time-high-near-20000\">reached a new all-time high<\/a>, surpassing $19,686.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The share of Bitcoin&#8217;s circulating supply that had not moved for more than a year fell by 1%, or $3.6 billion, as the price of digital gold rose in November, according to Unchained Capital citing the HODL Waves indicator.<\/p>\n","protected":false},"author":1,"featured_media":32849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18],"class_list":["post-32848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32848"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32848\/revisions"}],"predecessor-version":[{"id":32850,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32848\/revisions\/32850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32849"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}