On-chain data shows signs of some fresh Bitcoin accumulation taking place during the last month.

As pointed out by an analyst in a CryptoQuant post, UTXOs purchased between 1 week and 1 month ago have risen since the FTX crash.

The relevant indicator here is the “Realized Cap – UTXO Age Bands,” which tells us which age group has what percentage of the Bitcoin realized cap.

The “realized cap” here refers to a type of BTC capitalization model in which the crypto’s cap is calculated by weighing each coin in the circulating supply against the price at which it was last moved, and then taking the sum for the entire supply.

This capitalization method is different from the usual market cap, where all the coins are simply multiplied with the current BTC price.

(by Hououin Kyouma)