More investors HODL Bitcoin in anticipation of a 2021 BTC bull market

New data shows Bitcoin’s (BTC) current price action is showing higher levels of ‘HODLing’ activity than previous bull cycles.

According to on-chain analyst Willy Woo, an indicator called “reflexivity” has been increasing in recent months. Woo explained that the indicator measures Bitcoin investors’ tendency to hold onto their BTC as its price rises. It’s essentially an alternative way to gauge the HODLing activity of retail investors.

Bitcoin market cap gain per dollar invested or…

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