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15M inactive BTC points to seller exhaustion, analyst says
The inactive long term holder supply reaching an all time high of 15 million BTC this summer is cited as a sign sellers may be nearly exhausted.
Bitcoin is rallying despite macro headwinds, and Bitcoin Magazine highlighted on chain data that it says points to seller exhaustion.
In a segment attributed to Mitchell Askew, head of Blockware Intelligence, the outlet links the idea of reduced selling pressure to long term holder supply that has reached an all time high of 15 million BTC this summer.
The story also says Askew interprets the large amount of coins that remain unmoved as indicating additional room for price to run, and it notes he discusses what Bitcoin ETF flows reveal about institutional buyers returning to the market.
Bitcoin Magazine adds that it attributed the views in the video to the participants rather than BTC Inc. or its affiliates.
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