Onchain Highlights
DEFINITION: Bitcoin realized cap HODL waves are a bundle of all active supply age bands, aka HODL waves. Each colored band shows the percentage of Bitcoin in existence that was last moved within the period denoted in the legend.
Bitcoin’s realized cap has moved significantly throughout 2024, reflecting market conditions and investor behavior shifts. The year’s first half showed notable trends in long-term and short-term holder activities.
The realized cap HODL waves data indicates an increase in the proportion of Bitcoin held for extended periods (3 – 5 years), signaling increased confidence among long-term investors. Bitcoin’s realized cap approached $600 billion, showcasing rising investor confidence post-halving, which historically triggers bullish market sentiments.
Realized Cap HODL Waves: (Source: Glassnode)
Additionally, Bitcoin’s realized price surpassed $30,000, driven by heightened market activity and significant short-term holder accumulation. Th
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