- The inactive supply of bitcoin has reached a record high in three years, according to a Bitfinex report.
- Analysts believe this is a sign of optimism in the market.
About 40% of bitcoin supply has been inactive for more than three years, according to a Bitfinex report.
The document said, that the figure indicates optimistic sentiment and potential resilience to market fluctuations.
“The three-year figure shows that bitcoin’s bullish outlook remains in place for the long term, even as August’s first cryptocurrency finishes below the $26,000 mark,” analysts said in a commentary to The Block.
The analysts added that long-term holders of the first cryptocurrency who purchased their holdings during the bear market are now concerned, but they are not panicking.
At the time of writing, bitcoin trading volume is at its lowest level in nearly five years.
Analytics added.