> 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.