What drove bitcoin's 50% rally in October? It appears that bitcoin (BTC-USD) "hodlers" among mining pools hold on to their positions instead of selling for profit, which has contributed to a "supply shock" in the world's largest digital token, potentially causing the crypto to surge about 50% in October, Kraken Intelligence said in a report. Bitcoin's one-year revived supply, which presents the total volume of coins that become active after being temporarily inactive for a specific time frame, and HODL waves, which reflect the percentage of bitcoin's (BTC-USD) circulating supply that has not moved over a specific amount of time, signal a trend of more coins remaining dormant for longer, confirming long-term BTC holders may be fueling the supply shock. Even as bitcoin (BTC-USD) trades near its all-time high of $67.7K from two weeks ago, BTC hodlers including Riot Blockchain (NASDAQ:RIOT), Marathon Digital (NASDAQ:MARA) and Hut 8 Mining (NASDAQ:HUT), aren't
