This chart presents the BTC supply which is Younger than 6m 🟥

Based on our research, coins which have transacted within the last 5-6 months are the most likely to be spent on any given day. This cohort of coins are often referred to as Young Coins, or Short-Term Holders (for our entity-adjusted Professional variants).

This broad cohort of coins tend to swell and contract in line with market cycles:

• Young Coins typically swell in volume ↗️ during bullish market trends, reflecting a net transfer of coin wealth from longer-term investors, towards newer market participants, and speculators. It signifies a larger volume of active supply, and greater on-chain economic activity.

• Young Coins typically contract in volume ↘️ during bearish market trends, reflecting a net transfer of coin wealth from newer investors and speculators, back towards longer-term investors (HODLers). It signifies a decreasing volume of active supply, and declining on-chain economic activity.