Glimpses of positive momentum in an overall bearish market? Report

Bitcoin price closed August down 13.4%, but BTC nears record high supply long-term 13.61 million flashes a bullish signal.

Look at the different segments of the blockchain industry, they seem to be reacting to events around the world. While a segment like non-fungible tokens (NFTs) might experience a sudden surge in interest and investment, other areas like decentralized finance (DeFi) might slow down or stagnate. It's no different for August, which saw some positive signs, such as the number of long-term Bitcoin holders nearing its previous all-time high of over 13.6 million. Other segments, such as GameFi, saw a 13.8% decline in new users in the space from July.

It is important for those involved in the blockchain industry to take the pulse of different areas of the market, and the latest investor insights from Cointelegraph Research analyzes key metrics from different sectors of the blockchain industry. blockchain. The Cointelegraph Research analyst looked at 10 segments of the blockchain space, including regulation, crypto mining, security tokens, Bitcoin (BTC) and Ether (ETH) derivatives, and venture capital activities .

Download and purchase this report from the Cointelegraph Research Terminal.

At the end of August, the supply held by long-term Bitcoin holders was 6,000 coins away from hitting its ATH of 13.61 million. Long-term supply is the number of coins that have not moved for more than 155 days. This represents 70.6% of total outstanding and is the threshold at which the likelihood of selling and spending in the future decreases.

A number this high marks a very bullish signal, giving some insight into the supply that could be in progress...