Spent output Age Bands metric can be a helpful indicator to see which group is impacting current price action the most. I like to monitor groups from 2 to 10+ years as these are experienced market participants, so for example if you see a spike in 5y+ group followed by a drop in price it is likely that this price action could gain momentum in coming days/weeks. What we can see in recent weeks is increased activity in 3-5y group (highest since early January where it preceded a stronger move in following weeks) with slightly less significant 2-3y spike in April. All this as Bitcoin's price getting more "comfortable" under 27k, could be our early warning sign that recent gradual decline in price is set to gain some steam very soon.
Written by gigisulivan
