Glassnode: $8.3-$8.6k BTC Price Range Holds 1.05M Long-Term Coins

A recent analysis by Glassnode has found that there are approximately 1.05 million BTC worth between $8,300 and $8,600 in what is considered long-term holding territory.

The study reveals that this price range has been a zone of accumulation for investors, with many choosing to hold onto their coins rather than selling at lower prices.

Glassnode's analysis suggests that the current market conditions may be favoring buyers, as the presence of such a large amount of long-term holders could indicate a shift in sentiment towards a more bullish outlook.