Supply HODL Waves 0 HODL Waves 0
Bitcoin
HODL Waves visualize the age distribution of Bitcoin's supply, grouping coins into bands by how long since they last moved.
Why it matters
They reveal accumulation and distribution dynamics — whether supply is aging into strong hands or being spent by them.
How it is built
Each coin is bucketed by its age since last transaction, and the bands are stacked as percentage shares of total supply over time.
What to watch
Expanding older bands signal HODLing and supply maturation (bullish structure); swelling younger bands signal old coins moving, a distribution pattern common near tops.