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

Bitfinex stated in a report on Monday that the recent decline in Bitcoin since March may have been caused by long-term holders selling. However, blockchain data shows that this trend has stalled and investors are accumulating Bitcoin.CryptoQuant, an on-chain analysis firm, stated in a report on Tuesday that 50% of long-term Bitcoin supply is "inactive" and the amount of Bitcoin held in wallets it tracks has not changed or moved. This is considered a strong signal of long-term holding and may indicate further price increases.Therefore, the sentiment surrounding the continued growth of Bitcoin remains "stubbornly bullish," and QCP Capital has also noted an increase in trading activity.