Long-term investors scramble, with 95% of Bitcoin transactions involving ‘young coins’

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According to a study by on-chain analytics provider Glassnode, 95% of Bitcoin’s latest hand changes were last moved less than three months ago to the blockchain.

March 15 from Glassnode The week in chain report found that only 5% of exits spent are more than 90 days old, indicating that the vast majority of BTC moving on the channel are “young coins”.

Other data from Glassnode revealed that addresses that have hosted BTC for at least three years have significantly increased their holdings over the past six to 12 months, while short-term holders have taken profits since the start of 2020.

Glassnode defines “long-term holders” or LTH as wallets that have held their Bitcoin for more than 155 days, while “short-term holders” or STH are described as wallets that move BTC on chain within 155 days. or receive coins. .

The report claims that LTH tends to have better knowledge of Bitcoin, accumulating BTC in bear markets and unloading some during bull markets. In contrast, STH is likely to be either new market participants or short-term speculators who frequently move value between exchanges, he added.

At current prices, Glassnode found that 10.85 million BTC, or 58% of Bitcoin’s circulating supply, is currently profitable based on their last on-chain passage, while 5.3 million BTC is currently in the pipeline. profit and held by STH portfolios.

Glassnode also noted that LTHs actually hosted more coins than in previous market cycles.

The analytics provider also identified that the number of new active entities has recently reached new highs, indicating that many new retail investors have recently entered the space.