The number of bitcoin on-chain deposits has dropped sharply over the last six months, indicating a strong optimistic or “HODLing,” sentiment in the market.
Bitcoin likely carved out a major price bottom in December, according to a non-price metric, which has proved as a reliable price indicator in the past.
“HODLing” has returned to a major milestone: The total amount of bitcoins that haven’t changed hands in more than a year has crossed the 10 million mark.