*The third largest Bitcoin transaction in the last two weeks ($15,411.92 BTC)* occurred 13 hours ago.
However, it was tiny compared to a pair of large transactions that occurred on March 22 (87,051.03 BTC and 78,317.03 BTC) as the asset price dropped to $63,000. On-chain transaction volume surged that day, suggesting that key purchases made by shareholders during the decline fueled the recovery.
While it can be difficult to determine the nature of the wallets from which Bitcoin was withdrawn and deposited, these transactions appear to coincide with larger accumulations in wallets that have occurred since last weekend.
🕯Also keep an eye on the average dollar invested indicator, highlighted in pink. As it continues to move down, this line indicates that the average age of investments is getting younger as stagnant wallets continue to bring old coins back into circulation. This has been one of the main ingredients of the cryptocurrency bull market for over 15 years
