Bitcoin seeing greatest divergence in young vs old supply

Definition

This chart presents the percentage of the circulating supply transacted within the last six months alongside the percentage of the circulating supply, which has remained dormant for longer than six months.

• Long-term holders who have not transacted for at least 5-6 months are considerably less likely to be spent on any given day.
• Short-term holders transacted within the last 5-6 months are the most likely to be spent on any given day.

Quick Take

• The greatest divergence is currently underway when looking at young vs. old circulating supply in Bitcoin.
• The old supply currently holds 78% of the circulating supply, an all-time high.
• While the young supply has 22% of the circulating supply, an all-time low.
• This kind of divergence usually occurs during deep bear markets.

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