Bitcoin (BTC<\/a>) at $30,000 is the most popular \u201cbuy\u201d level ever, the latest on-chain data suggests.<\/p>\n According to figures from crypto analytics firm Glassnode<\/a>, a record amount of BTC changed hands near the current spot price.<\/p>\n BTC price action may have stalled near the $30,000 mark<\/a>, but buyer behavior suggests that there is significant demand for the largest cryptocurrency here and now.<\/p>\n Glassnode, which monitors unspent transaction outputs (UTXO), shows that $30,200 is the price at which the largest number was created.<\/p>\n The figures come from the firm\u2019s Entity-Adjusted URPD, or UTXO Realized Price Distribution metric. This counts UTXOs but discards two important transaction types that could give a false impression of demand.<\/p>\n \u201cIn this calculation we discard coin movements between addresses controlled by the same entity, as such transfers do not correspond to real purchasing events and would distort the actual mean purchasing price. Further, we exclude all supply that is on exchanges, because a single averaged price for the funds of millions of users would be misleading and give rise to unwanted artifacts in the data,\u201d Glassnode’s explainer confirms. <\/p>\n The result is that 3.8% of the total BTC supply last moved at $30,200 \u2014 more, even, than at $16,500, which marks the area near the 2022 post-FTX bottom<\/a>.<\/p>\n \u201cBig move is coming,\u201d popular pseudonymous trader Mikybull Crypto commented<\/a> in part of a reaction to the non-entity adjusted data set, which displays similar numbers.<\/p>\n Other on-chain data reinforces the idea that old hands are uninterested in selling their stake, despite this year\u2019s BTC price doubling.<\/p>\n Related: Bitcoin spending copies history as metric flags \u20181st stage bull market\u2019<\/a><\/em><\/strong><\/p>\n Glassnode\u2019s Hodled or Lost Coins metric, which covers what it describes as \u201cold and large stashes\u201d of BTC, continues to head toward new record highs.<\/p>\n Hodled or Lost Coins is based on the so-called \u201cliveliness\u201d of the Bitcoin blockchain \u2014 how much of the supply moves at once and following what period of dormancy.<\/p>\n This data provides an insight into how stagnant the supply is, including, as its name suggests, how much is likely out of reach indefinitely \u2014 for example, due to wallet owners losing access to their investment.<\/p>\n The Hodled or Lost Coins segment currently includes 7.77 million BTC, worth around $233 billion. This is the highest tally in five years.<\/p>\n Estimates have long suggested that around 20% of Bitcoin\u2019s 21 million units may already be locked from circulation forever<\/a>.<\/p>\nBitcoin: ‘Big move coming’ thanks to buyer interest<\/h2>\n
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Over 7 million BTC ‘hodled or lost’<\/h2>\n
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