Cointelegraph Consulting: Data shows Bitcoin hodlers becoming more active
How does Bitcoin’s positive online sentiment affect the market outlook? Data suggests that holders are suddenly becoming more active. The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, show that the Bitcoin Age Consumed experienced a large uptick with the recent price increase — a sign that tokens previously dormant are on the move. The Bitcoin Age Consumed metric is found by multiplying the amount of tokens changing addresses on a certain date by the time since they last moved. It is an indicator of volatility, which often precedes a directional....
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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....
Bitcoin supply that has not moved for over two years has hit a 3-month low, indicating conviction from long-time HODLers. Long-time Bitcoin (BTC) HODLers are refraining from selling their holdings, on-chain data from Glassnode shows. According to Glassnode’s "BTC Percent Supply Last Active 2+ Years" indicator, Bitcoin that was last moved well over two years ago reached a three-month low to 45.364%.BTC Percent Supply Last Active 2+ Years. Source: GlassnodeThis trend indicates that Bitcoin HODLers who bought around the top of the last bull cycle in 2018 and before are showing deeper....
The number of active Bitcoin addresses has tanked. On-chain data currently shows that the number of active Bitcoin addresses has crashed over 50% in the past months. The number of active Bitcoin addresses during the height of the bull market surpasses one million. By the time Bitcoin hit its $64k all-time high, there were almost […]
Much is said about crypto adoption and how we, as hodlers, will be on the right side of history. And while regulators, U.S ones especially, have been trying their damndest to derail the revolution, data compiled by TripleA shows a positive trend with crypto adoption, especially in many developing nations. With that, India, despite their […]
Bitcoin is getting livelier at current six-week highs, data shows, as profit-taking comes back into the spotlight. Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs.Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation.BTC trends out of hibernationAs BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market.According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years....