LONG-TERM HOLDERS
It’s time to check in on the supply of Bitcoin last active 1+ years ago.
I love this chart. It’s so simple to understand and it’s extremely useful.
It categorizes coins based on how long it’s been since they last moved on-chain. (as a percentage of the circulating supply)
Metrics rising: long-term holders are accumulating coins 📈
Metrics declining: long-term holders are selling coins 📉
Taking a look at the chart below you’ll notice significant dips in these metrics when Bitcoin reaches new all-time highs. (especially with the 1+ year age band)
onchain
Here’s the breakdown for each cohort (compared to what it was 2 weeks ago):
- 🔴 Supply last active 1+ years ago: 65.80% (up from 65.68%)
- 🟠 Supply last active 2+ years ago: 54.81% (up from 54.65%)
- 🟢 Supply last active 3+ years ago: 46.33% (up from 45.69%)
- 🔵 Supply last active 5+ years ago: 31.19% (down from 31.22%)
Over the last two weeks, the 1+, 2+ and 3+ age bands experienced a slight increase.
BUT, the 5+ age band slightly decreased…
The sell-offs from long-term holders has slowed down. Now long-term holders are once again waiting on the price to increase further before taking anymore profits.
BUT, there was a small amount of selling from the 5+ year age band. (nothing too significant though)
All in all, long-term holders still have an extremely high conviction in the future of Bitcoin.