Data shows Bitcoin supply has been relatively illiquid recently as long-term holders haven’t started realizing profits much. Bitcoin Supply Last Moved Within 30 Days Has Been Relatively Low As per the latest weekly report from Arcane Research, despite a rise in BTC’s price recently, the supply moved within the last 30 days hasn’t risen much. The percentage of Bitcoin supply last moved in the past 30 days is an important indicator that tells us about the liquidity of the market. Usually, when coins start aging more, they become less likely to be moved. Because of this reason, a low proportion of short-term supply implies low liquidity in the market. This can be a bullish signal for BTC. On the other hand, if a high percentage of Bitcoin supply is young, then the liquidity would be high. This may be a sign of bearish trend. Based on the trend of the indicator, it may be possible to tell whether the market is nearing a peak or not. Here is a chart that shows how the value of the BTC young supply has changed since 2017: Looks like the current percentage of supply moved in the last thirty days is relatively low | Source: The Arcane Research Weekly Update - Week 44 The above graph shows some interesting features between the indicator and the Bitcoin price during the two bull runs of 2017 and 2018. Related Reading | Bitcoin Sentiment Suggests Serious Greed, But Will A Correction Come? In 2017, whenever the...
