True Bitcoin HODLERS UNfazed: 30%+ Supply Dormant for 5 Years+

Despite the recent meltdown, on-chain data indicates Bitcoin diamond hands held for over five years have remained stable.

In a recent article on X, market intelligence site IntoTheBlock discussed the proportion of the Bitcoin supply owned by investors who acquired more than five years ago.


Statistically, holders are less likely to move or sell their coins (UTXOs) on the network the longer they are idle. As such, the “long-term holder” (LTH) group bears the market's merciless grip.

IntoTheBlock defines LTHs as investors who acquired at least a year ago, therefore the holders under consideration, those who have been quiet for at least five years, are perhaps the most resilient.

Coins that age over five years are more likely to be lost. Their keys have been lost or forgotten, so they may never be found again.

HODLing still accounts for most of the supply. IntoTheBlock says, “while some of this could be attributed to lost funds, a majority likely belongs to long-term holders.”

As seen in the graph above, the supply of diamond hands reduced early in the year, indicating that some investors sold their coins.

Since these steadfast LTHs don't selloff, the chart's metric trajectory shows that this occurrence was unusual. However, since the downturn, the indicator has been rising, indicating the cohort's selling appetite has subsided.

These veterans have before survived deeper cryptocurrency price drops, therefore the recent meltdown, which has dropped its price to its lowest level since February, has not worried them. “This shows that despite market fluctuations, there is a strong core of Bitcoin believers,” says IntoTheBlock.

This region of Bitcoin LTHs controls roughly 30% of the supply, meaning a third hasn't changed in five years.

#BTC #Bitcoin #MtGoxJulyRepayments $BTC