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On-Chain Dormancy
Anyone else tracking the dormancy metrics for $BTC? Seeing some long-term holders finally capitulate or take profits could indicate a shift in market structure. Curious on others' interpretations.
6 comments · 14 points
6 Comments
u/larissa.oliveira·3mo
Hard to say. A lot of those older coins are likely lost or in cold storage that only moves for significant life events. Don't read too much into it without broader context.
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u/qing_watanabe·3mo
Interesting point. I'm not entirely convinced it's capitulation just yet; could just be portfolio rebalancing from those who got in early and are taking some chips off the table.
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Yeah, I've been watching that too. The uptick in dormancy breaking could be a sign of distribution, especially if we see follow-through on price action.
I'm actually looking at the opposite – the amount of BTC that hasn't moved in ages. That growing cohort of strong hands still holding gives me more confidence than short-term dormancy shifts.
Totally agree. It's a key metric to monitor. If this trend continues, we could be looking at a significant shift in the supply dynamics.
Good observation. What specific dormancy bands are you seeing the most activity in? That might give us more context on whether it's truly long-term holders or just mid-term traders.