Bitcoin HODLers on the move again
Several metrics that track the activity of previously dormant BTC registered notable spikes in the past 24 hours, as Bitcoin breached the $13k mark for the first time since July.
After a month of relative calm, there's been seen a surge in the activity of BTC that previously remained dormant for more than 2 years:
Long-term investors tend to execute trades based on extensive analysis or intimate market knowledge, which is why sudden changes in HODLer behavior often coincide with major shifts in market conditions and upcoming price volatility.
Bitcoin's Mean Dollar Invested Age has also dipped for the first time in a month, suggesting short-term distribution and potential profit taking by some long-term investors:
Bitcoin's Age Consumed (which inflates when previously idle coins change addresses) has also recorded a string of 12-hour spikes, in line with the activity surge around Bitcoin's September 1st top and the end of its July rally: