Bitcoin (BTC) investors who bought at 2017 all-time highs and above have still not sold, data suggests.
According to the HODL Waves metric, coins which last moved in the past six to twelve months now make up the biggest portion of the BTC supply.
BTC buyers hold their nerve
Despite strong gains and equally strong corrections in 2021, those who entered the market or added to their positions in or after November 2020 are refusing to sell.
HODL Waves, which track the age distribution of unspent transaction outputs (UTXOs), show that the supply controlled by those six to twelve-month “hodlers” has increased — from 8.7% at the start of June to 21.4% as of Nov. 17.
At the same time, coins held for multiple years have decreased only slightly, highlighting