This One Factor Is Contributing to a Bitcoin Rally – And It Has Not Abated, According to …

Kraken says it is keeping an eye on the HODL waves metric, which shows the percentage of BTC supply that has remained dormant over a specific period.

During the nearly five-month period, old coins grew 10.9 percentage points to 51.6%, while young coins fell -11.8 percentage points to 25.49%, the lowest figure since November 2018 when BTC was worth roughly $5,700.

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