As Bitcoin Hits All-Time High, What Are Older Coins Doing On The Network?


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As the bitcoin price hits another all-time high, let’s dig into the behavior of what older coins are doing on the network. Their behavior helps determine the current state of market sentiment.

The spent volume age bands for coins older than three months helps to paint a clear picture of what happened at the previous all-time high. There was an increasing trend of older coins (supply greater than three months of age) being spent as price was bid up by new market entrants. The peak in spent volume share during this trend preceded the blow-off top in price back in April.

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