In this analysis I want to dive deeper into on-chain analytics, namely the amount of the BTC supply that has not moved in over 1-year (read: investors that hold BTC for >1 year).
This metric is important because it gauges the amount of hodlers in the market. Historically, the amount of hodlers always goes up during bear-markets and goes down during...
This chart shows the percent of circulating supply that has not moved in at least 1 year. This data shows what percentage of long-term holders have kept their bitcoins.
This index has a negative correlation with price. When prices fall, holders are reluctant to sell and the index starts to rise. Once the price has risen enough, some of these holders will start...