47% of all bitcoins in circulation have not moved for 2 years: Ark – Bitcoin (BTC/USD)

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Nearly half of all BitcoinBTC/USD in circulation haven’t budged an inch in the past 2 years, according to data from Ark Investment Management’s monthly report.

What happened: According to Ark, Bitcoin holder behavior over long-term time horizons is “stronger than ever.”

The percentage of Bitcoin supply that hadn’t moved in two or more years closed the year at 47%, an all-time high.

Even though around $700 was the lowest price level where most Bitcoin in existence was mined and traded during the early years of the Bitcoin network, Ark Invest believes that the $16,000 to $17,500 range is the domain of strongest support due to a large amount of bitcoin. traded (7% of the total supply) in this price range.

SeeMore:Best Crypto Day Trading Strategies

The recent fall in Bitcoin prices has been attributed to three key factors, according to Ark:

Large outflows of Bitcoin held on exchange following FTX collapse High level of capitulation among traders over losses; and Bitcoin accumulation by buyers during the sale. All of these factors have contributed to large amounts of Bitcoin being traded at favorable prices.

The report notes that Bitcoin’s monthly volatility fell to 25% at the end of 2022, its lowest level since late 2020. After a brief peak in November, December saw a welcome drop, indicating a period of relative stability not seen since. mid to late 2020 and late 2018.

Ark CEO Cathie Woodin November confirmed her prediction that Bitcoin would hit $1 million by 2030.

Price Action: BTC was trading at $17,429.23, up 1%, in the past 24 hours, according to Benzinga Pro.

Read next: Brady, Bndchen, Kraft and this billionaire hedge fund manager own FTX shares: Here’s how much

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