> For the complete documentation index, see [llms.txt](https://docs.blockhorizon.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.blockhorizon.io/chart-tutorials/spend-outputs/spent-volume-1m-3m.md). # Spent Volume 1m-3m ## Spent Volume 1 Month–3 Months Indicator The Spent Volume 1 Month–3 Months metric is an on-chain indicator that tracks the total volume spent in transactions involving coins that have been held for 1 month to 3 months. This metric provides insights into the behavior of medium-term holders, capturing their reactions to market trends and sentiment shifts. It is particularly useful for analyzing profit-taking, speculative activity, and market confidence among relatively recent investors. ## Steps to Use the Spent Volume 1 Month–3 Months Metric 1\. Understand the Concept * Spent Volume 1 Month–3 Months: Measures the total volume of coins (in cryptocurrency units or USD value) spent after being held for a period of 1 month to 3 months. * Relevance: Reflects the activity of medium-term holders, offering insights into their sentiment, profit-taking behavior, or strategic decisions. 2\. Interpret the Spent Volume 1 Month–3 Months Metric * High Volume: Indicates increased activity by medium-term holders, often linked to profit-taking during bullish trends or reactions to market volatility. * Low Volume: Suggests reduced participation by medium-term holders, reflecting confidence in holding or reduced market activity. * Spikes in Volume: May signal significant price movements, market events, or changes in sentiment among medium-term holders. 3\. Analyze Historical Patterns * Bull Markets: High activity in this metric during price rallies often reflects profit-taking by medium-term holders, signaling potential resistance or market peaks. * Bear Markets: Low activity during downturns suggests that medium-term holders are refraining from selling, indicating confidence in a potential recovery. * Stable Markets: Minimal activity points to a calm market with limited speculative trading, often seen during accumulation phases. 4\. Make Decisions * During Bull Markets: Monitor high activity for signs of increased selling pressure by medium-term holders, which may indicate slowing momentum or corrections. * During Bear Markets: Low activity reflects confidence among medium-term holders, signaling reduced selling pressure and potential market stabilization. * During Consolidation Phases: Minimal activity suggests reduced speculative behavior, providing a conducive environment for evaluating long-term strategies. ## Tips: * Combine with Other Metrics: Use Spent Volume 1 Month–3 Months alongside metrics like SOPR (Spent Output Profit Ratio), NUPL (Net Unrealized Profit/Loss), and Spent Outputs 1m–3m for a comprehensive view of medium-term holder behavior. * Monitor Profit-Taking Trends: Spikes in this metric during bullish phases often indicate profit-taking, providing early signals of potential market reversals or resistance. * Assess Market Sentiment: Low activity during downturns reflects confidence among medium-term holders, often coinciding with accumulation phases or market stabilization. * Compare Historical Patterns: Evaluate current activity against historical data to identify recurring behaviors and align strategies with past market cycles. ## How to Use the Indicator Effectively * During Market Tops: High spent volume 1 month–3 months reflects profit-taking by medium-term holders, often aligning with resistance levels or market peaks. Use these signals to assess risk and prepare for potential corrections. * During Market Bottoms: Low activity indicates confidence among medium-term holders, suggesting reduced selling pressure and favorable conditions for market recovery. These signals often align with accumulation opportunities. * During Consolidation Phases: Minimal activity reflects market stability and reduced speculative behavior, creating a foundation for long-term positioning and planning. ## Created By: This indicator is a widely recognized tool in blockchain analytics. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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