How Bitcoin’s performance is driving away BTC investors
Is BTC approaching its bottom?
According to Santiment, historically, this kind of decline in the holdings of small BTC owners is a sign of capitulation. This is mostly followed by a price rebound. It often signals a price bottom, a phase marked by renewed optimism that can help drive up the asset’s value.
To determine whether a price bottom is in, it is key to observe BTC’s Age Consumed metric. This metric tracks the movement of previously idle BTCs.
When Age Consumed sees a surge, it suggests that a significant amount of once-idle tokens have changed address. This hints at a sudden and strong shift in the behavior of long-term holders.
Conversely, when the Age Consumed metric dips, long-held coins remain in wallet addresses without being traded.
