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Bitcoin wallets that are more than 10 years old are showing minimal activity than ever, as evidenced by the Glassnode Amount of Supply Aged >10 Y Last Active indicator reaching a new all-time high.
This information appeared against the backdrop of a strong market correction. The indicator does not signal either purchasing power or selling pressure, however, the activity of such wallets should be considered as a sign of a change in global trends.
At the moment, the market is experiencing a constant influx of BTC on centralized and decentralized exchanges. Over the past three days, about 150,000 bitcoins have been deposited on them.
The influx data also correlates with the medium-term trend in the cryptocurrency market – over the past two weeks, bitcoin has lost approximately 17% of its value. A strong bearish trend in the market formed just after the New Year, when risk aversion trends appeared in the financial markets.
If long-established wallets and holders hold onto their assets, younger addresses show more signs of activity. Funds moved 2-3 years ago are characterized by a high degree of activity, entering trading platforms or moving to another wallet.
📉 Bitcoin supply on wallets that have been active for the last 2-3 years just hit a 2-year low of 1,328,530.584 BTC.
The previous 2-year low of 1,328,842.507 BTC was on January 4, 2022.
📉 #Bitcoin $BTC Amount of Supply Last Active 2y-3y (1d MA) just reached a 2-year low of 1,328,530.584 BTC
Previous 2-year low of 1,328,842.507 BTC was observed on 04 January 2022
View metric:https://t.co/ov1FrjgNQz pic.twitter.com/iNSAFarpQ7
— glassnode alerts (@glassnodealerts) January 14, 2022
#Satoshi #Era #Bitcoin #Wallet #Activity #Hits