The amount of BTC sold in 2021 is a record low, with 101 million tweets mentioning Bitcoin in 2021.
According to Glassnode’s Coin Destruction Days (CDD) metric, the percentage of coins used by ex-soldiers remains near a record low. That means that seasoned Bitcoin miners have barely issued any coins this year, despite the all-time high of $ 69,000.
Bitcoin sellers are still selling record-low BTC despite a 70% increase in 2021
In the recent vote of confidence among those who have invested and held Bitcoin for years, CDD remains extremely calm. The indicator refers to the time each BTC has been inactive with each move. This offers an alternative to simple volume measurements to identify market trends. This makes older coins more important than younger coins with an active history.
“Despite the increase in recent months, the current values are still close to historic lows,” summarized the UTXO administration’s Twitter account with a chart marker.
Table of Days of Coin Destruction (CDD) | Source: UTXO Management / Twitter
With the sale of old trades soaring after Bitcoin price hit its all-time high of $ 20,000 last year, there are still solid hands in place. Even a run to nearly $ 70,000 couldn’t break the trend significantly, and sales still seem to have come from new entrants.
It’s also confirmed by Unchained Money’s HODL Waves – coins bought three to six months ago are now making the biggest drop in overall supply. This means that sellers bought back their BTC between June and September of this year, the period when BTC / USD fell as low as $ 30,000.
Bitcoin HODL wave chart | Source: Unchained Cash
Even market participants at $ 20,000 are doubling as BTC / USD is expected to be $ 20,000 higher by the end of 2021 than it was in early January.
Elsewhere, there were 101 million tweets that contained the word “Bitcoin” in 2021, according to data from the analytics company Visibrain. This is a 350% increase from the number in 2020.
Chart showing the number of tweets with the word “Bitcoin” from January 2009 to December 2021 | Source: Twitter
The dramatic increase in social media attention Bitcoin has received over the past year can be explained by an increase in the number of people who are broadly familiar with cryptocurrencies.