Bitcoin Diamond Hands: Despite Recent Fear, Coins Aged 12-18 Months Rise To 2-Year High

Despite the recent fearful market, Bitcoin hodlers show diamond hands as coins aged 12-18 months touch a 2-year high. Coins Matured To 12-18 Months Revisit A High Not Seen Since 2 Years As pointed out by an analyst in a CryptoQuant post, BTC hodlers have held strong recently as coins aged 12-18 months have seen a sharp spike recently. The relevant on-chain indicator here is the Bitcoin Sum Coin Age (SCA) Distribution that shows the distribution of coins among the different holders in the market. The metric works by looking at each coin on the chain and measuring how many days it has been since it was last moved. Based on the age, these coins are put into different categories. For instance, if a coin has been sitting still since 12-18 months ago, it is included in the 12-18 months holder group. When the distribution of the long-term holders goes up, it means accumulation has been strong recently. Such a trend has usually been bullish for the price of Bitcoin as it shows a large number of holders refuse to sell at the current levels. On the other hand, when coins belonging to short-term holders move up, it means some long-term holders have decided to sell. This trend may be bearish for the price of the crypto. Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think? Now, here is a chart that shows the trend in the supply of coins that have matured to 12-18 months (o...