🟢Since December, the supply held for more than 1 year keeps increasing. 💥 This has recently accelerated, with the monthly average now at +217,000 Bitcoin. This is a positive development, indicating that many holders who bought a year ago, and therefore at higher prices, continue to hold. —> But we shouldn’t view things solely from this angle. Even though this builds a solid base, and we can see that this supply increases during every bear market, it’s also a sign of weak demand. 🔴 During strong bullish rallies, we can observe that the supply held for more than one year has always been negative. This makes sense, as STH rush into Bitcoin while prices keep climbing, while LTH take profit. 👉 For now, we can say Bitcoin is building the base needed for a healthy bullish recovery. This is something that takes time to establish, since rebuilding real demand is a fairly long process. Patience is required for now, but the overall trend remains positive.