Bitcoin (BTC) has spent the last two months ranging from $ 30,000 to $ 40,000.

Therefore, it shows that bulls and bears are embroidered on a marker, and William Clemente III acknowledged this fact. Chain Analyst explained:

“Long-term holders continue to stack: +20,969 BTC for their holdings today, +145,021 BTC for their holdings last week and +397,487 BTC for their holdings last month.”

He added:

“Short-term holders will continue to sell: -15,085 BTC for their holdings today, -112,950 BTCs for their holdings last week and -428,749 BTC for their holdings last month.”

These statistics show that as long-term holders continue to buy more Bitcoin, their short-term colleagues will dissolve their holdings.

The encryption data provider has been diluted recently naked that short-term holders sold at a loss from 13 May.

Total payments paid on the Bitcoin network fell to an 11-month low

By for chain measurement supplier Glassnode, BTC’s total payments were 11-month low, 1,488 BTC.

This is related to the recent market crash that drove Bitcoin price from an all-time high (ATH) of $ 64.8,000 to a low of $ 30,000 on May 19th.

Google is looking for a legal tender. Lucas Outumuro, a senior analyst at IntoTheBlock, admitted that Google searches with a “legal tender” had gone through the roof. He stated:

“The world is paying attention. Google’s search for “legal tender” reached a new height under El Salvador’s Bitcoin law. “

El Salvador recently fire the first country to introduce Bitcoin as a legal tender. This change is expected to create jobs in a country where 70% of the population works in the informal economy and does not have a bank account.

In addition, it is expected to be a way to provide access to investment, savings, credit and secure transactions.

Image source: Shutterstock

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