Definition
This chart presents the proportion of the circulating provide transacted inside the final six months alongside the proportion of the circulating provide, which has remained dormant for longer than six months.
- Lengthy-term holders who haven’t transacted for not less than 5-6 months
are significantly much less prone to be spent on any given day. - Brief-term holders transacted inside the final 5-6 months
are the almost definitely to be spent on any given day.
Fast Take
- The best divergence is presently underway when younger vs. outdated circulating provide in Bitcoin.
- The outdated provide presently holds 78% of the circulating provide, an all-time excessive.
- Whereas the younger provide has 22% of the circulating provide, an all-time low.
- This type of divergence often happens throughout deep bear markets.
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