Nervous Newbies Take Profits While Long-Term BTC Investors Are Strong

by



[ad_1]

Long-term Bitcoin enthusiasts don’t seem to sell despite the all-time highs of 2021, while nervous newbies took profits along the way.

According to Unchained Capital’s ‘Hodlwaves’ chart – which visually illustrates the time since the last activation of BTC wallets on the chain, 2021 has seen an increase in both long and short-term activity.

Hodlwaves: Capital Unleashed

The chart shows that the number of coins that have been moved in the last 30-90 days is at its highest level since 2018. These addresses represent over 15% and are currently the largest segment of BTC wallets.

Bitcoin wallets that have been inactive for three to five years are currently the second largest segment, accounting for 13.5% of all addresses. These portfolios have also steadily increased in number in 2021, with spectators speculate the data may reflect a large number of BTC bag holders who bought during the 2017 season and were held throughout the downtrend.

While the share of wallets that have not been active between five and ten years appears to have declined over the past year, the number of addresses that have been inactive for at least a decade has fallen from around 1.7% ago. is two years old at 10.7. % today.

On March 11, Rafael Schultze-Kraft, chief technical officer and co-founder of on-chain crypto analysis firm Glassnode, shared data revealing that the number of wallets that have not been active in the past three years or more has steadily increased since the end of December.

However, data shows that the share of Bitcoin wallets that have been inactive for at least 12 months has risen from record highs of almost 65% in January to 55% today, with almost half of Bitcoin wallets active last year.