According to the Number of Supply Aged > 10 Years Last Activity by Glassnode, the Last Activity indicator hit a new all-time high. Bitcoin wallets that are over ten years old show fewer signs of activity than ever before.
“Bitcoin BTC Last Active Supply in 2 Years 3 Years (1 Day MA) just hit a 2-year low of 1,328,530,584 BTC. A previous 2-year low of 1,328,842,507 BTC was observed on January 4, 2022,” Glassnode stated.
Source: Glassnode
Satoshi-Period’s Bitcoin Wallet Has Become The Least Active in the History of the BTC Network
This information comes in the context that the market is facing a significant correction. This indicator does not signal any buying or selling pressure, but at the same time, the activity of such wallets should be taken as a sign of a change in global trends.
According to money flow data, the market experienced a steady spike in BTC inflows to centralized and decentralized exchanges. Over the past three days, about 150,000 Bitcoins have been deposited on exchanges.
The money flow data also correlates with the medium-term trend in the crypto market, with Bitcoin losing around 17% of its value over the past two weeks. A strong bearish trend takes place in the market right after the new year as a risk-on bias emerges in the financial markets.
While older wallets and holders are holding onto their assets, significantly younger coins are showing more signs of activity with a 2-year 3-year Last Active Supply Number hitting a low This suggests that the supply that moved 2-3 years ago is now decreasing, with many holders moving their coins for sale or forcing them to other wallets.
But while the old whales keep their wallets, a drastic global change in crypto market trends remains a possibility and not inevitable.
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