Bitcoin hodling rate reaches 9-month high, boosting hopes of ‘bull

A yearlong price rally in the (BTC) market and hopes for more upside moves in the future has prompted traders to hold the token instead of trading it for other assets, Glassnode data shows.

The blockchain data analytics service revealed on Oct. 28 that the total amount of “hodled or lost coins” reached a nine-month high of over 7.21 million BTC. In simple terms, the Bitcoin metric reflected an increase in out-of-circulation tokens — those that may have been stored in cold wallets by long-term holders or lost due to human errors, with little chance of recovery.

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