On-chain data shows the Bitcoin whales who bought around one month ago have continued to hold strong despite the price surge providing them with a chance to take some profit.
Bitcoin 1 Month To 3 Month Old Supply Has Been Rising In Recent Days
As pointed out by an analyst in a CryptoQuant post, the whales who bought at $19k about a month ago seem to not have realized their profits yet.
The relevant indicator here are the Bitcoin supply age bands, which tell us how much coins are held by each cohort right now.
These groups or age bands are divided based on the amount of time the coins belonging to them have been held stationary in a single wallet address for.
For example, the 1D-1W age band includes all coins that haven’t been moved or sold since between one day and one week ago.
Now, here is a chart that shows the trend in the Bitcoin supplies for some of the age bands over the past week:
The data for all the different age groups in the market up to the three months old mark Source: BTCUSD on TradingView
Featured image from Jaunathan Gagnon on Unsplash.com, charts from TradingView.com, CryptoQuant.com
On-chain data shows the Bitcoin whales who bought around one month ago have continued to hold strong despite the price surge providing them with a chance to take some profit.
Bitcoin 1 Month To 3 Month Old Supply Has Been Rising In Recent Days
As pointed out by an analyst in a CryptoQuant post, the whales who bought at $19k about a month ago seem to not have realized their profits yet.
The relevant indicator here are the Bitcoin supply age bands, which tell us how much coins are held by each cohort right now.
These groups or age bands are divided based on the amount of time the coins belonging to them have been held stationary in a single wallet address for.
For example, the 1D-1W age band includes all coins that haven’t been moved or sold since between one day and one week ago.
Now, here is a chart that shows the trend in the Bitcoin supplies for some of the age bands over the past week:
The data for all the different age groups in the market up to the three months old mark
