2020 bull market buyers now control 16% of supply

Bitcoin (BTC) has gained a new generatio of “hodler” in the past three years as stubborn investors refuse to sell.

Data from the popular HODL Waves metric shows that those who bought Bitcoin in late 2020 are still sitting on their coins.

BTC price should go “way higher” for hodlers to sell

Bitcoin’s longer-term investor cohorts, also known as long-term holders (LTHs), are in no mood to decrease their exposure despite the 2023 bull run.

HODL Waves, which groups the BTC supply by the time elapsing since each coin last moved, shows a particular age band growing considerably over the past year.

Since the bear market bottom in late 2022, coins unmoved in two to three years have increased…

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