Liveliness provides a big picture view into the propensity of | Wall Street Crypto Trading

Liveliness provides a big picture view into the propensity of Bitcoin holders to spend or hold their coins. Currently, Liveliness is in a multi-year macro downtrend, having peaked in May 2021 when bear market first set in.

We can see a similar structure has formed to the 2018-20 cycle, as coins slowly but surely migrate into cold storage and are removed from the market by the HODLer cohort.