Diar Research shows that while a majority of circulating supply (48%) that sit in public addresses that hold between 10 and 1000BTC have been net sellers over the past year, addresses holding between 1 and 10 Bitcoins continue to grows steadily and most holders never move the digital currency once it lands in their wallet.
While the numbers highlight a real zeal by retail investors to hold onto some Bitcoin, the majority of holdings have been in safekeeping since below current prices alleviating possible downward price pressures. 55% of addresses holding exactly 5 Bitcoins (approx. 60k Bitcoins) been placed in wallets before September 2017 when the month averaged at $4000/BTC. The number is a close 49% for addresses with exactly 10BTC (88k Bitcoins). That also means that approximately 75k Bitcoins in these "investment-type addresses" where allocated, not necessarily purchased, while Bitcoin was trading above current levels.