Over 50% of Bitcoin Supply Unmoved Since Bear Market Began
Bitcoin accumulation and holding are continuing, and a reluctance to sell means that more of the asset is becoming dormant. According to data from on-chain analytics provider Glassnode, more than half of the Bitcoin supply is inactive. By inactive, it means that the coins have not moved for the past two years. Furthermore, The percentage of supply last active more than two years ago has hit an all-time high of 53%. After almost two years of hovering around 45%, the number of dormant BTC jumped in 2023. This suggests that those who bought more than two years ago are unwilling to sell. Many that bought during the last bull market would still be underwater right now. After all, Bitcoin is still trading down almost 60% from its all-time high in November 2021. BTC % Last Active 2+ Years Ago – Glassnode/TwitterBitcoin On-Chain Movements Industry influencer Anthony Pompliano tweeted the data on April 10. Additionally, he observed that almost 29% of all Bitcoin in circulation has not moved in the last five years. “That is over $150 billion in market cap that hasnt moved in half a decade,” he sinabi. Glassnode data also suggests that just under 15% of all Bitcoin in circulation has not moved in a decade. There