Analyst: Bitcoin's 'hot supply' indicator has dropped by more than 50%

03/21 12:03

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with the recent wave of meme coin scams and macroeconomic uncertainty, the speculative enthusiasm in the crypto market is fading, and investors are turning to safer digital asset investments. According to Glassnode data, the "hot supply" indicator for Bitcoin (measuring Bitcoin held for a week or less) has dropped by over 50%, from 5.9% at the end of November to just 2.3% on March 20. Ryan Lee, Chief Analyst at Bitget Research, stated that the decline in this indicator indicates that investors are shifting towards safer investment positions amid recent market volatility.

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