{"id":511479,"date":"2022-12-07T19:00:24","date_gmt":"2022-12-08T00:00:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=511479"},"modified":"2024-06-11T13:45:23","modified_gmt":"2024-06-11T13:45:23","slug":"bitcoin-holders-rapid-new-accumulation-bear-bottom","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-holders-rapid-new-accumulation-bear-bottom\/","title":{"rendered":"Bitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal?"},"content":{"rendered":"

On-chain data shows Bitcoin holders have done some rapid fresh accumulation recently, something that may lead to bottom formation for the cycle.<\/p>\n

Bitcoin 1w-1m Realized Cap UTXO Age Bands Have Sharply Gone Up<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the percentage of the BTC realized cap that was last moved between 1 week to 1 month ago has displayed rapid uptrend for the first time in this bear.<\/p>\n

The “realized cap<\/a>” is a Bitcoin capitalization model that values each coin in the circulating supply using the price at which it was last moved. The metric then calculates the “true valuation” of BTC by summing up all these values of the individual coins.<\/p>\n

This is different from the normal market cap, where every coin in circulation has the same one value; the current Bitcoin price.<\/p>\n

The “realized cap – UTXO age bands<\/a>” is an indicator that tells us the distribution of the realized cap of each age band in the market.<\/p>\n

These age bands specify ranges between which UTXOs (or more simply, coins) falling into said age band were last moved.<\/p>\n

Related Reading: Glassnode: Bitcoin Holders Realized 14x More Losses Than Profits Recently<\/a><\/div>\n

The relevant age band here is the 1w-1m group, which includes all UTXOs that were last moved within 1 week to 1 month ago.<\/p>\n

Here is a chart that shows how the percentage of the realized cap contributed by this age band has changed over the years:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has sharply gone up in recent weeks | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the realized cap of the 1w-1m Bitcoin UTXO age band has observed some rapid uptrend recently.<\/p>\n
The older end of this range, that is, one month ago, is around when the crash due to the FTX collapse took place.<\/p>\n
\n
Related Reading:  Bitcoin Investor Cohorts Now Have Close Cost-Basis, What Does It Say About Market?<\/a><\/div>\n<\/div>\n
The indicator’s value rising thus suggests that investors have done some fresh accumulation at the lows following this crash.<\/p>\n
This is the first time in this Bitcoin bear market that such rapid new accumulation has taken place.<\/p>\n
From the chart, it’s apparent that such rises have historically coincided with cyclical lows in the price. Another interesting thing to note is that between these spikes in the metric during the previous two cycles, there were 1358 days.<\/p>\n
The current rise has come 1444 days after the last one, which is a similar length as the gap before. If there really is a pattern here, then the Bitcoin bottom may be very close, if not already in.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $16.8k, down 1% in the last week.<\/p>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows Bitcoin holders have done some rapid fresh accumulation recently, something that may lead to bottom formation for the cycle. Bitcoin 1w-1m Realized Cap UTXO Age Bands Have Sharply Gone Up As pointed out by an analyst in a CryptoQuant post, the percentage of the BTC realized cap that was last moved between 1 week to 1 month ago has displayed rapid uptrend for the first time in this bear. The “realized cap” is a Bitcoin capitalization model that values each coin in the circulating supply using the price at which it was last moved. The metric then calculates the “true valuation” of BTC by summing up all these values of the individual coins. This is different from the normal market cap, where every coin in circulation has the same one value; the current Bitcoin price. The “realized cap – UTXO age bands” is an indicator that tells us the distribution of the realized cap of each age band in the market. These age bands specify ranges between which UTXOs (or more simply, coins) falling into said age band were last moved. Related Reading: Glassnode: Bitcoin Holders Realized 14x More Losses Than Profits Recently The relevant age band here is the 1w-1m group, which includes all UTXOs that were last moved within 1 week to 1 month ago. Here is a chart that shows how the percentage of the realized cap contributed by this age band has changed over the years: Looks like the value of the metric has sharply gone up in recent weeks | Source: CryptoQuant As you can see in the above graph, the realized cap of the 1w-1m Bitcoin UTXO age band has observed some rapid uptrend recently. The older end of this range, that is, one month ago, is around when the crash due to the FTX collapse took place. Related Reading: Bitcoin Investor Cohorts Now Have Close Cost-Basis, What Does It Say About Market? The indicator’s value rising thus suggests that investors have done some fresh accumulation at the lows following this crash. This is the first time in this Bitcoin bear market that such rapid new accumulation has taken place. From the chart, it’s apparent that such rises have historically coincided with cyclical lows in the price. Another interesting thing to note is that between these spikes in the metric during the previous two cycles, there were 1358 days. The current rise has come 1444 days after the last one, which is a similar length as the gap before. If there really is a pattern here, then the Bitcoin bottom may be very close, if not already in. BTC Price At the time of writing, Bitcoin’s price floats around $16.8k, down 1% in the last week. Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":511505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83982,7104,27251,87427,1119,1144],"class_list":["post-511479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-accumulation","tag-bitcoin-bear-market","tag-bitcoin-bottom","tag-bitcoin-bottom-signal","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal?<\/title>\n<meta name=\"description\" content=\"On-chain data shows Bitcoin holders have done some rapid fresh accumulation recently, something that may lead to bottom formation for the cycle. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal?","url":"http:\/\/uniquehot.com\/news\/bitcoin-holders-rapid-new-accumulation-bear-bottom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-holders-rapid-new-accumulation-bear-bottom\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin accumulation","bitcoin bear market","bitcoin bottom","bitcoin bottom signal","btc","btcusd"],"dateCreated":"2022-12-08T00:00:24Z","datePublished":"2022-12-08T00:00:24Z","dateModified":"2024-06-11T13:45:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-holders-rapid-new-accumulation-bear-bottom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-holders-rapid-new-accumulation-bear-bottom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin accumulation\",\"bitcoin bear market\",\"bitcoin bottom\",\"bitcoin bottom signal\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-12-08T00:00:24Z\",\"datePublished\":\"2022-12-08T00:00:24Z\",\"dateModified\":\"2024-06-11T13:45:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/kanchanara-4KJJezDyo3M-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/511479"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=511479"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/511479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/511505"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=511479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=511479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=511479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}