Pre-2019 Bitcoins now make up just 44% of the BTC active supply
Despite the May sell-off, strong hands are mostly holding firm at prices which seemed impossible two years ago. Bitcoin (BTC) is less active than at any time this year, new data shows as traders stubbornly refuse to sell.One metric from on-chain monitoring resource Glassnode reveals that the Bitcoin supply is becoming less and less available despite lower prices."Spooked" hodlers cling to BTCOn June 2, Bitcoin’s active supply hit a five-month low of 44.5%. Bitcoin two-year active supply vs. BTC/USD chart. Source: Glassnode/ TwitterThe number measures coins which have moved in the past two....
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On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period. Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally....
The active supply of Ethereum (ETH), measured on a 6-12 month timeframe, has dipped to its 17-month low. Data fetched by Glassnode shows that there are now over 15.1 million ETH available for accumulation even as the demand for the cryptocurrency grows ahead of its much-awaited protocol migration to proof-of-stake. At its periodic high, the […]
When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.
Data shows the Bitcoin supply older than 1 year has shown accelerating movement recently, suggesting even the crypto’s stronger hands are feeling the fear in the market. Bitcoin Diamond Hands Are Starting To Budge In Current Market According to the latest weekly report from Glassnode, BTC’s older supply has been observing selling in recent days. The relevant indicator here is the “revived supply last active 1+ years,” which measures how many coins that have been sitting still since at least one year ago are seeing movement per day. When the value of this metric....
2022's bear is 2019's bull as Bitcoin active entities number around 275,000 per day in February. Bitcoin (BTC) is now seeing "tepid" demand just three months after hitting its latest all-time high, according to on-chain analytics firm Glassnode.In a tweet on Feb. 18, researchers flagged a sea change in Bitcoin on-chain activity compared to just three months ago. Bitcoin active entities echo 2019 "mini bull peak"Bitcoin's descent from $69,000 to $33,000 has been accompanied by a widely-publicized crash in interest from mainstream consumers.Now, the latest data shows that for existing....