According to glassnode, recent data shows a significant shift in Bitcoin coin age distribution, with coins less than 1 month old rising sharply to 76.9% in May 2025 versus 44.6% in December 2024, while coins older than 6 months have dropped to 13.4% from 24.7% during the same period (source: glassnode, May 22, 2025). This reduction in older coin activity signals increased long-term holding behavior among investors, which may decrease immediate sell pressure and potentially support higher Bitcoin prices. Traders should monitor these on-chain trends as they reflect changing market sentiment and possible impacts on both spot and derivatives markets.

According to glassnode, 151,000 BTC held at the price level of $97,800 did not move during recent market volatility, indicating strong holding behavior. This makes it the largest supply above the current spot price. If Bitcoin revisits this price level, it may face significant resistance as these holders might sell to reach break-even.