Bitcoin’s Great Rotation: Who Bought the Dip and Why It Matters [Report]

Over 100,000 BTC woke up. Coins dormant for five years or more - last moved when Bitcoin traded below $20,000 - changed hands at $90,000+. Long-term holders who survived multiple cycles, held through 70% drawdowns, and watched their positions grow 10x finally took profits near the top.

The HODL wave data tells the story. The 5+ year band barely moved - 32.97% to 32.90%, a 7 basis point decline. The action was in younger cohorts: supply held less than 6 months expanded from 27.01% to 29.89%, a 288 basis point increase. Old coins became young coins as long-term holders distributed to new entrants willing to pay six-figure prices.

Download your free copy today!