- The active age ranges of one to five years have been resolved for HODLing Bitcoin.
- Coins in profit exceed those in loss despite the decrease in BTC.
Bitcoin (BTC) Supply distribution has been a topic of interest since before the royal coin hit the all-time high of $69,000 (ATH), until this time it was pegged. It is notable that each supply category, represented by active age groups, shares a common characteristic that could influence BTC.
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Looking at active age groups from one to five years old, Glassnode showed that they were linked together since they reached their respective ATHs.
All categories are in unison
At the time the on-chain analytics platform published its tweet, the one-year age group was seeing the largest increase. This suggests that a number of investors have been accumulating BTC and staying there since last year’s capitulation.
THE #Bitcoin The last active supply age groups are all currently at ATH. This suggests that HODLing is the main dynamic across all subsections of the long-term holder cohort.
? Supply last active more than a year ago: 69.2%
? Supply last active more than 2 years ago: 55.7%
? Provide latest asset 3+… pic.twitter.com/FYdWi1tVq2
– glassnode (@glassnode) July 26, 2023
As a reminder, active age groups measure the movement of coins accumulated or stored for long periods of time.
When the measurement increases, it means that long-term accumulation is increasing. But when the measurement drops, it implies that long-term holders spend and distribute their coins. And most of the time, it falls into the hands of younger people. cohort.
Therefore, the age groups from one to five years are increasing simultaneously implies that the primary resolution of long-term holders is to HODL.
Regarding total Bitcoin profit supply, Glassnode showed that it had fallen to 14.19 million as of July 26. Bitcoin Supply in Profit shows the number of coins whose price at the last move was lower than the current price.
BTC remains tempting despite this drop
Although the metric is still higher than it was in December 2022, the drop could be linked to BTC’s recent decline. According to CoinMarketCap, BTC’s 365-day rise of 28.49% turned into a 2.86% decrease over the past 30 days.
As expected, the decline in profit supply led to an increase in the price of Bitcoin. loss supply. But at 5.21 million, the number of holders still benefiting exceeds those who face a slowdown at the accumulated price.
Meanwhile, the realized market capitalization HODL waves had fallen to 1,691. As an alternative to circulation HODL waves, realized market cap HODL waves weight the realized price of coins in each supply tranche.
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The decrease implies that unspent younger coins have been classified as older coins. Generally, this proves accumulation with growing market support from older coins.
As an overall snapshot of HODLing behavior, the metric showed that Bitcoin is still attractive to the average investor. Additionally, the belief not to distribute coins was still strong.