CryptoQuant: 50% of long-term Bitcoin supply is in "inactive" status, which may indicate further price increases

Bitfinex stated in a report on Monday that the decline of Bitcoin since March may be due to long-term holders selling off. However, blockchain data shows that this trend has stagnated and investors are accumulating Bitcoin.

On-chain analysis company CryptoQuant reported on Tuesday that 50% of the long-term Bitcoin supply is "inactive", with no changes or variations in the amount of Bitcoin held in its tracked wallets. This is considered a strong signal for long-term holding, which could indicate further price increases.

Therefore, sentiment around the continued growth of Bitcoin remains "stubbornly bullish," and QCP Capital also noted an increase in trading activity.