{"id":654381,"date":"2024-11-23T15:30:24","date_gmt":"2024-11-23T15:30:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=654381"},"modified":"2024-11-22T20:30:48","modified_gmt":"2024-11-22T20:30:48","slug":"54-bitcoin-inactive-2-despite-500-price-jump","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/54-bitcoin-inactive-2-despite-500-price-jump\/","title":{"rendered":"54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump"},"content":{"rendered":"

On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period.<\/p>\n

Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong<\/h2>\n

In a new post<\/a> on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe.<\/p>\n

Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near?<\/a><\/div>\n

Below is the chart shared by the analyst that shows how the Bitcoin Active Supply has changed for a few different age bands over the last couple of years.<\/p>\n

\"Bitcoin
Looks like a large portion of the supply has remained inactive during this window | Source: @n3ocortex on X<\/a><\/figcaption><\/figure>\n

From the graph, it’s visible that the age bands on the younger side like 1 month to 3 months and 3 months to 6 months have been observing growth recently, which suggests the relatively recent supply has been churning as a result of the price surge. The older bands, however, have been more or less showing a sideways movement on this indicator.<\/p>\n

The chart displays all the Active Supply bands up to the 1 year to 2 years group stacked on top of each other, to showcase what percentage of the total supply that they make up for.<\/p>\n

It would appear that these Active Supply bands add up to 46%, meaning that less than half of the cryptocurrency’s supply in circulation has witnessed some movement within the past couple of years.<\/p>\n

The 2-year cut off currently sits in November 2022, when the last Bitcoin bear market reached a bottom. Given the trend in the Active Supply, it seems that the investors who bought during and prior to the bottom have largely decided to HODL<\/a>.<\/p>\n

Interestingly, this is despite the fact that the asset’s value has seen an uplift of more than 500% since then. “HODLing isn’t just a meme,” notes the Glassnode co-founder.<\/p>\n

Statistically, the longer investors hold onto their coins, the less likely they become to participate in selling, so considering that 54% of the supply hasn’t seen movement for over two years now, it’s possible a lot of these holders would only continue to sit tight in the near future.<\/p>\n

Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains<\/a><\/div>\n

In some other news, the Deribit exchange has observed massive Bitcoin outflows<\/a> during the past day, as an analyst has pointed out in a CryptoQuant Quicktake post<\/a>.<\/p>\n

\"Bitcoin
The trend in the BTC Exchange Netflow for the Deribit platform | Source: CryptoQuant<\/a><\/figcaption><\/figure>\n

In total, users of the platform have transferred out a net 31,000 BTC to their self-custodial wallets with these transactions. The investors may have made these moves for accumulation<\/a> purposes, which can naturally be a bullish sign for the asset’s price.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has now gotten very close to the $100,000 dream target as its price is currently trading around the $98,900 mark.<\/p>\n

\"Bitcoin
The price of the coin seems to have been riding an uptrend recently | Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period. Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? Below is the chart shared by the analyst that shows how the Bitcoin Active Supply has changed for a few different age bands over the last couple of years. From the graph, it’s visible that the age bands on the younger side like 1 month to 3 months and 3 months to 6 months have been observing growth recently, which suggests the relatively recent supply has been churning as a result of the price surge. The older bands, however, have been more or less showing a sideways movement on this indicator. The chart displays all the Active Supply bands up to the 1 year to 2 years group stacked on top of each other, to showcase what percentage of the total supply that they make up for. It would appear that these Active Supply bands add up to 46%, meaning that less than half of the cryptocurrency’s supply in circulation has witnessed some movement within the past couple of years. The 2-year cut off currently sits in November 2022, when the last Bitcoin bear market reached a bottom. Given the trend in the Active Supply, it seems that the investors who bought during and prior to the bottom have largely decided to HODL. Interestingly, this is despite the fact that the asset’s value has seen an uplift of more than 500% since then. “HODLing isn’t just a meme,” notes the Glassnode co-founder. Statistically, the longer investors hold onto their coins, the less likely they become to participate in selling, so considering that 54% of the supply hasn’t seen movement for over two years now, it’s possible a lot of these holders would only continue to sit tight in the near future. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains In some other news, the Deribit exchange has observed massive Bitcoin outflows during the past day, as an analyst has pointed out in a CryptoQuant Quicktake post. In total, users of the platform have transferred out a net 31,000 BTC to their self-custodial wallets with these transactions. The investors may have made these moves for accumulation purposes, which can naturally be a bullish sign for the asset’s price. BTC Price Bitcoin has now gotten very close to the $100,000 dream target as its price is currently trading around the $98,900 mark. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":654384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,93419,11680,91199,93420,1119,78790],"class_list":["post-654381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-active-supply","tag-bitcoin-bullish","tag-bitcoin-hodling","tag-bitcoin-inactive-supply","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump<\/title>\n<meta name=\"description\" content=\"Data shows a majority of the Bitcoin supply hasn't moved in two years, despite the fact that BTC has seen a big jump during this period.\" \/>\n<meta name=\"robots\" content=\"index, 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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":"54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump","url":"http:\/\/uniquehot.com\/bitcoin-news\/54-bitcoin-inactive-2-despite-500-price-jump\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/54-bitcoin-inactive-2-despite-500-price-jump\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/btc_75ef1d.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/btc_75ef1d.png?fit=1792%2C1024"},"articleSection":"Bitcoin 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 active supply","bitcoin bullish","bitcoin hodling","bitcoin inactive supply","btc","btcusdt"],"dateCreated":"2024-11-23T15:30:24Z","datePublished":"2024-11-23T15:30:24Z","dateModified":"2024-11-23T15:30:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/54-bitcoin-inactive-2-despite-500-price-jump\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/54-bitcoin-inactive-2-despite-500-price-jump\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/btc_75ef1d.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/btc_75ef1d.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin 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 active supply\",\"bitcoin bullish\",\"bitcoin hodling\",\"bitcoin inactive supply\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2024-11-23T15:30:24Z\",\"datePublished\":\"2024-11-23T15:30:24Z\",\"dateModified\":\"2024-11-23T15:30:24Z\"}<\/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\/2024\/11\/btc_75ef1d.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654381","targetHints":{"allow":["GET"]}}],"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=654381"}],"version-history":[{"count":4,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654381\/revisions"}],"predecessor-version":[{"id":654458,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654381\/revisions\/654458"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/654384"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=654381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=654381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=654381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}