Bitcoin's Strongest Hands Return Amid Rising Long-Term Investor Confidence

On-chain data suggests that Bitcoin's 'strongest hands' are returning to the market. According to a recent analysis, the number of addresses holding at least 1 BTC has increased significantly since mid-2022.

This trend is seen as a positive sign for the cryptocurrency, indicating that long-term investors are regaining confidence in its potential.

The data also shows that Bitcoin's price has been closely correlated with the percentage of supply held by these large addresses. This means that when more of these 'strong hands' are holding onto their BTC, the price tends to rise.