Bitcoin Holders Control 80% of Supply, Indicating Potential Market Bottom

According to a recent analysis by Glassnode, long-term Bitcoin holders currently control approximately 80% of the cryptocurrency's supply. This figure is slightly below the roughly 85% level observed near the bottoms of previous bear markets. The analysis suggests that Bitcoin may be approaching a market bottom. However, it also indicates that several more months of sideways consolidation might be necessary before any significant market movement occurs.