Data shows that Bitcoin holders are about to trigger a new BTC price high

Experienced Bitcoin (Bitcoin) This week’s data shows that hodlers are about to trigger a new price increase by hoarding BTC.

Monitoring resources based on the chain Glass node, Bitcoin supply will enter a new aging process.

1-year supply bottomed out

When highlighting its active supply indicator, Glassnode researchers pointed out that the percentage of Bitcoin supply is forming a partial bottom, and the supply has changed a year or more.

In the past, the holders or “holders” who had just sold these old coins began to accumulate, thereby increasing the overall dormant supply age. In turn, this created a “supply tightness”, demand increased relative to the available BTC, and prices benefited as a result. Sales restarted to the top of the local price, and the process began again.

This cyclical pattern played a role during Bitcoin’s rise to $20,000 at the end of 2017, and the all-time high in April 2021 seems to be no exception.

However, the figures for these two years are different.

“The supply of Bitcoin that has been dormant for at least 1 year began to bottom out, reaching 54.2%. Compared with the top in 2017, this shows that the relative proportion of BTC is larger and it is still in cold storage,” Glassnode commented.

“However, it also shows that spending less tokens’put 2021 in the first place.'”

More and more “last hodlers”

telegraph Often reported Regarding the hodler behavior and queues of BTCs of different ages that affect the market.

related: Just another bubble?New research shows that Bitcoin prices follow China’s debt cycle higher

Recently, the data shows that overall, Strong hands The supply of BTC is now controlled more than at any time since October 2020.

The part of the pie belonging to speculative traders also continues to see local resets Deleveraging event For example, in May and September this year.