Bitcoin “Diamond Hands” Start To Break As 1yr+ Supply Ramps Up Selling

Data shows the Bitcoin supply older than 1 year has shown accelerating movement recently, suggesting even the crypto’s stronger hands are feeling the fear in the market. Bitcoin Diamond Hands Are Starting To Budge In Current Market According to the latest weekly report from Glassnode, BTC’s older supply has been observing selling in recent days. The relevant indicator here is the “revived supply last active 1+ years,” which measures how many coins that have been sitting still since at least one year ago are seeing movement per day. When the value of this metric spikes up, it means a large amount of coins belonging to Bitcoin hodlers are being moved at the moment. Such a trend, when prolonged over a period, may be bearish for the crypto’s price as this kind of movement can imply the diamond hands in the market have been selling. On the other hand, low values of the metric imply there hasn’t been any significant movement in the supply older than one year recently. Related Reading | Bitcoin Long-Term Holder Loss-Taking Now Highest Since 2019 This trend shows hodlers are holding strong on to their coins, a sign that could be either neutral or bullish for the coin’s value. Now, here is a chart that shows the trend in the revived Bitcoin supply last active 1+ year ago over the past 12 months: The value of the indicator seems to have been high recently | Source: Glassnode's The Week...