At this time ~99.5% of BTC motion got here from cash held lower than 1 12 months

Timeframe is the final 24 hours (as much as ~7:12 pm EST / 00:12 GMT). The chart contains each on-chain transaction in that window.

Every bar exhibits BTC spent by coin age band (UTXO age at spend). PnL is realized revenue/loss vs the worth when every UTXO was first created. The pie on the suitable exhibits whole realized revenue vs loss for the day.

Key takeaways from at this time’s knowledge:

~99.5% of all BTC spent got here from cash youthful than 1 12 months. A piece of 1–1.5y cash realized losses, however the overwhelming majority of capitulation is from short-term holders / “vacationers” dumping current buys. Outdated cash (1.5y+) barely moved. Lengthy-term HODLers are nonetheless largely sitting tight and stacking. The 180-1yr crowd rising lately is pointing to loss harvesting earlier than 2026 to help tax benefits. It represented about 30% of the promoting at a loss by quantity however was disproportionalty smaller by way of precise loss relative to cash moved (this is smart as cash held that lengthy are usually not as a lot in a loss because the shorter time period entrants since summer time).

This can be a fast snapshot from my full-node dataset. I’ll submit extra breakdowns like this as I preserve constructing out the tooling.