Bitcoin ( BTC ) is flashing a metric reminiscent of previous bear-market bottoms, according to Ki Young Ju, the chief executive of on-chain insights firm CryptoQuant.
Ju notes on Twitter that BTC’s accumulation level has reached a seven-year high.

“Over 6-month-old Bitcoins now take 74% of the realized cap. It was 70%, and 77% at the last bottoms in 2019, and 2015 respectively. Imagine you buy Bitcoins and do nothing over six months. You know how hard it is…”
Source: ki_young_ju/Twitter
The CEO clarifies that he’s not saying that 74% of BTC supply hasn’t moved in six months.
“It’s not just about Bitcoin supply but realized capitalization. I meant ‘over six-month-old Bitcoins take 74% of the realized cap, which means over six-month-old unmoved Bitcoins take 74% of market cap in terms of PnL realization.'”
Crypto analytics firm Glassnode also notes on Twitter that the amount Bitcoin supply last active 6-12 months ago (based on a one-day moving average) reached a 6-month high of 2,311,039.946 BTC this week.
The firm also says the number of BTC addresses holding 0.1+ coins just reached an all-time high of 3,832,859 on Monday.
Bitcoin is trading at $20,217 at time of writing. The top-ranked crypto asset by market cap is up more than 3.6% in the past 24 hours and more than 6.5% in the past week.
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The post Bitcoin Accumulation Hits Seven-Year High, Flashing 2015 and 2019 Bottom Signal: Quant Analyst appeared first on The Daily Hodl .