The cryptocurrency market has been trading sideways since its all-time high of $73,000 in March. We examined the flow of capital into the market by analyzing the cost basis of short-term investors. When we look at the spending behavior of long-term holders, we find that the amount spent by these players accounts for only 4-8% of the total volume, but the profit from this spend typically accounts for 30-40% of the total profit realized during bull markets. This shows that wealth is concentrated in the hands of old coins, and diamond hands are gradually repaid throughout the bull market. 📈💡#Cryptocurrency#Blockchain