Long-term holders continue to accumulate Bitcoin, while short-term speculators take profits

According to the research of on-chain analytics provider Glassnode, 95% of the bitcoins that were last changed hands were moved on the blockchain for the last time less than three months ago. The one-week on-chain report released by Glassnode on March 15 found that only 5% of spent outputs exceed 90 days, indicating that the vast majority of bitcoins that move on the chain are “young coins”. Other data from Glassnode found that addresses holding bitcoin for at least three years have increased their holdings of bitcoin significantly in the past 6 to 12 months, and short-term holders have been profiting since the beginning of 2020.