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19 September 2021

Bitcoin gears up for $47K assault — can BTC price overcome make or break resistance?

Bitcoin gears up for $47K assault — can BTC price overcome make or break resistance?


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In its latest weekly report, "The Week On-chain," analytics firm Glassnode revealed that long-term holders (LTHs) own nearly 13 million BTC — 80% of the supply.

"LTH owned supply has reached 79.5% of all BTC coins this week, which is equivalent to the level reached in October, prior to the bull market kicking off.

As Cointelegraph reported, an imminent supply squeeze is a focal topic among analysts this week.

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cointelegraph.com
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