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It’s Been Five Years Since 21.6% of Bitcoin Has Moved, Reaching an All-Time High



  • Delphi Digital analyzed the UXTO age of Bitcoin recently, discovering how much has been left unmoved for one, two, and five years or more.
  • Presently, Bitcoin is priced at $9,271.32.

Delphi Digital: One in Every Five Bitcoins Has Not Moved in the Past Five Years, Setting a Record

Bitcoin has had a rough couple of days, dropping down around $7,500 on October 25th, though it has bounced back above $9,200 this week. While this type of drop is commonly associated with pessimistic long-term holders of the token. According to reports from The Next Web’s Hard Fork, the decline in price can be credited to newer investors that have only held Bitcoin for a few months.

Delphi Digital, a boutique research firm, stated,

“In the days following the selloff, there was additional movement from slightly older holders in the 6-12-month range and 12-18-month range, with heightened exchange inflows to match.”

The firm sorts Bitcoin, based on the last time they were moved, with Unspent Transaction Output data. The UXTO age refers to the amount of time that Bitcoin remains unmoving. In this graph, featured by Hard Fork, Bitcoin’s activity is divided amongst several bands. The black line shows Bitcoin’s price, while the green line represents the Bitcoin that has yet to move for a minimum of one year.

Delphi Digital stated,

“There hasn’t been much movement from long-term holders this year, despite the rollercoaster of price and sentiment. The portion of supply that hasn’t moved in at least one year started the year at 55.6%, peaked at the end of April at 60.8%, and currently sits at 58.3%.”

Presently, 38.7% of the circulating supply has not moved in at least two years, which has gone up from 34.6% earlier in the year. What’s more interesting is that there is still 21.6% of the circulating Bitcoin supply that hasn’t moved anywhere at all in about five years or more.

The firm explained,

“This is one of the things that distinguishes this mini-cycle from true bull and bear cycles, you don’t have long term holders cashing out as prices really take off. Long-term holders will dictate cyclical tops and bottoms, but it’s the short-term traders that will have a larger impact on intra-cycle prices as they gauge, among other things, the flow of new money entering the space.”

Presently, Bitcoin is priced at $9,271.32, rising by 1.34% with $23,860,622,318 in trading volume in the last 24 hours.

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