Data from the blockchain shows that veteran Bitcoin investors have been a bit tired recently but still own 11.9% of supply.
Bitcoin holders aged 3-5 years have slowed down their selling
The new post Glassnode’s on-chain analysts spoke on X about the latest trends in the Realized cap of Bitcoin investors between 3 and 5 years. The “Realized Cap” here refers to an indicator that measures BTC’s total value by assuming the ‘real’ value of any token in circulation is equal to the price at which it was last transacted on the blockchain.
The price of the coin at that time can be used as the current basis for costing. Realized Cap = the price of tokens in the supply.
The indicator is a measure of the amount invested by investors in total to buy their coins. The Realized Cap Waves is a modified version that tracks the exact same thing, but only for a specific segment.
The investor group of most interest in the present discussion is that of 3 to 5 year olds. This group is made up of all coin holders that have kept their coins inactive for between three to five years.
The chart below shows the value of this cohort over the past two years.
In November, as shown in the graph above, Bitcoin Realized Cap (BRC) controlled by investors aged 3 to 5 reached an all-time share (ATH) of 15,7%. Soon after forming this peak, investors took advantage of a profitable rally to sell off their shares.
After a pause in sales in January, it resumed again in April. It is possible that some of those resolute individuals took to the exits during this latest recession. price rally. The chart zoomed-in shows that it is possible the recent selling was exhausted.
That said, while the supply has shown the start of a potential sideways phase, it doesn’t mean that the 3 years to 5 years investors no longer pose a threat to Bitcoin. The cohort still holds 11.9% of the asset’s Realized Cap, which is quite significant.
These diamond hands are likely waiting for higher prices, so it’s possible that this supply would start being distributed if the bull run continues, perhaps acting as a source of resistance.
BTC price
Bitcoin was trading at around $105,800 as of the writing. This is down more than 3% over the past seven days.
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Source: www.newsbtc.com
