Ancient Bitcoin supply nears all-time highs: What this means for experienced HODLers

Explore the intriguing world of "Ancient coins" in the cryptocurrency market - Bitcoin holdings aged 5 years or more that are infrequently spent and held by experienced HODLers. These coins are currently at, or just below, their all-time highs, with millions of Bitcoins in different age categories. But what's the significance of these ancient coins when they're spent, and how do they impact market dynamics during capitulation events like the FTX and Luna collapse? Find out by subscribing to Alpha and diving into the full analysis... The post Ancient Bitcoin supply nears all-time highs: What this means for experienced HODLers appeared first on CryptoSlate.

Apr 25, 2023 - 20:36

Given the infamous volatility of Bitcoin markets, coins aged 5yr or more are typically owned by HODLers who are very experienced in market cycles (or they are lost).
These coins are spent infrequently and represent just a small fraction of the daily transfer volume (if any). We refer to these as colloquially Ancient coins.
However, these coins may have also been acquired at much lower prices by mining or on secondary markets. When these coins are spent, they can represent very large USD-denominated values at modern prices.
Currently, these coins, as a supply %, are either at all-time highs or just below their all-time high.
In addition, ancient coins being spent is a normal occurrence in bear markets — especially last year during capitulation events. Examples can be seen with FTX and Luna collapse.

Coins aged 7yr+: 5.540M Bitcoin (All-Time High)

Coins aged 5y-10y: 2.766M Bitcoin (2% off its all-time high)

Coins aged 5y-7y: 1.642M Bitcoin (All-Time High)