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Analysts claim that the supply of the first cryptocurrency is declining at a rate of 100K BTC per month
Big Bitcoin holders have accelerated the accumulation of cryptocurrency, according to research firm Glassnode. Bitcoin supply is currently decreasing at a rate of 100 thousand BTC per month. Most purchased coins are moved to wallets with little transaction history. Analysts believe that these addresses are used for long-term storage of cryptocurrency.
In November, analysts at Glassnode said long-term holders are not getting rid of Bitcoin despite falling more than 20% from its all-time high.
On December 22, Bitcoin is trading at $ 48.6 thousand, and its capitalization is $ 930 billion, according to CoinGecko. On November 10, the price of the asset renewed its all-time high above $ 69 thousand. Over the past six weeks, the cryptocurrency has fallen in price by 30%.
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