Strong Hands Return to Bitcoin Market Amid Price Volatility
CoinDesk reports that Bitcoin's 'strongest hands' have returned to the market, according to on-chain data. This refers to investors who held onto their BTC during the crypto winter of 2017-2020 and have now resumed buying. The data shows that these long-term holders are increasing their stake in BTC.
The 'strongest hands' metric is based on the concept that those who hold onto their investments through market downturns are more likely to be committed to their holdings. This group of investors typically includes miners, institutions, and individual investors who have weathered past price fluctuations.
According to CoinDesk, these strong hands are now buying back in after holding off during the 2022 bear market. The data suggests that they are taking advantage of lower prices to increase their holdings.