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Bitcoin Realized HODL Waves Chart

Price update 34 minutes ago
UTXO update 34 minutes ago

Chart

Realized HODL Waves Chart Explained

Formula
HODL\ Wave_{\small\ age\ group} = \frac{\large Realized\ Active\ Supply_{\small\ age\ group}}{\large Realized\ Cap}
Formula
\large Realized\ Active\ Supply_{\small\ age\ group} = Active\ Supply \cdot \large Realized\ Price_{\small\ age\ group}

This chart shows the distribution of Bitcoin supply across different age bands as percentages of the realized market cap. Each colored band represents Bitcoin that has been held for a specific time period.

The realized cap is calculated by multiplying each UTXO by the price at which it was last moved, providing a more accurate representation of the actual capital invested in Bitcoin.

HODL Waves help identify market cycles - high percentages in short-term bands (red/pink) often indicate active trading and potential market tops, while high percentages in long-term bands (blue/purple) suggest strong conviction and potential market bottoms.

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