In Q4, data reveals that “younger” BTC purchased at the summer $30,000 lows is moving.
Strong hands knuckle down throughout 2021
Despite reaching all-time highs of $69,000 this year, research suggests that long-term Bitcoin (BTC) hodlers have spent very little of their coins.
According to the Coin Days Destroyed (CDD) statistic from on-chain analytics startup Glassnode, the fraction of coins spent by old hands continues to be at all-time lows.
Strong hands have remained stable since a spike in old hand selling after BTC/USD hit 2017’s all-time highs of $20,000 last year, according to the statistics.
Even the recent rally to nearly $70,000 failed to appreciably break the trend, as fresh market participants continue to sell.
Summer buyers are winter sellers
Unchained Capital’s Hodl Waves statistic confirms this: coins purchased between three and six months ago now account for the largest reduction in overall supply.
This means that sellers bought their bitcoins between June and September of this year, when the price of bitcoin fell to $30,000.
As stated by Cointelegraph, significant distinctions between different kinds of hodlers have long been scrutinised.
Even those who bought at $20,000 are double in, as BTC/USD is expected to conclude 2021 roughly $20,000 higher than it was in January.
Meanwhile, senior analyst Dylan LeClair of UTXO Management reported last week that hodlers are adding to their positions in general this month.
