On-chain data shows the part of the Bitcoin realized cap held by the long-term holders has increased and is now at nearly 80%. Bitcoin Long-Term Holders Own Almost 80% Of Realized Cap As explained by an analyst in a CryptoQuant post, the crypto has historically tended to form bottoms around when the long-term holder share of realized cap has exceeded 80%. The “long-term holders” (LTHs) are all those Bitcoin investors who have been holding onto their coins without selling or moving since at least 155 days ago. The realized cap is a way of assessing the capitalization of the crypto where each circulating coin’s value is taken as the price it was last moved or sold at, rather than the current BTC price. Now, the relevant on-chain indicator here is the “realized cap – UTXO age bands (%),” which tells us what part are the various groups in the Bitcoin market contributing to the total realized cap of the coin. Related Reading | Bitcoin Exchange Reserve Spikes Up, Selloff Not Over Yet? The various age bands denote the amount of time investors belonging to a group have been holding their coins for. As mentioned earlier, LTHs include all cohorts holding since at least 155 days ago. Here is a chart that shows how the contribution to the realized cap by these investors have changed over the history of Bitcoin: Looks like the value of the metric has observed rise recently | Source: CryptoQuant...
