16-year-old Satoshi-era Bitcoin tweet resurfaces, highlighting early pioneer and recent market fluctuations

From Investing.com

January 22, 2025 2:00:20 pm:

Historian Pete Rizzo shared a tweet from 16 years ago about Hal Finney, an early Bitcoin pioneer, when the cryptocurrency’s value was $0. Finney, a computer scientist, received the first Bitcoin transaction in 2009 from Satoshi Nakamoto. Despite battling ALS, he continued to work on Bitcoin until his passing in 2014.

Bitcoin’s price hit a new all-time high of $109,358 before dropping and stabilizing over $100,000. Currently at $104,436, Bitcoin’s market cap is $2.07 trillion. Glassnode’s Binary Coin Days Destroyed indicator shows decreased activity by long-term holders, indicating a need for new catalysts to unlock supply.

Long-term holders are returning to accumulation after a sell-off at $100,000, with Glassnode reporting an increase in supply. This trend mirrors activity following last year’s intra-cycle peak in March. The market may require fresh catalysts to stimulate supply.

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