Quick Take
Tracing back to 155 days ago, the financial landscape encountered substantial turbulence with the collapse of Silicon Valley Bank around March 9 and 10, resulting in Bitcoin price plummeting below the $20,000 mark.
However, this challenging environment didn’t seem to deter the resolve of long-term Bitcoin holders.
Data analysis indicates that the long-term holder supply, defined as individuals or entities holding Bitcoin for a duration of 155 days or more, experienced a notable surge despite the volatile market conditions.
The supply level reached unprecedented highs, settling at 14.617 million Bitcoin. This phenomenon suggests a noteworthy level of confidence and resilience among long-term holders, who seemingly favor Bitcoin’s potential over the instability triggered by banking sector disturbances.
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