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Dormant Bitcoin Holders Still Prevail Despite Soaring BTC Prices

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It is reported that the total supply of bitcoins older than 6 months has reached 14.993 million, close to the historical peak (ATH is 15.029 million), while th…

Dormant Bitcoin Holders Still Prevail Despite Soaring BTC Prices

It is reported that the total supply of bitcoins older than 6 months has reached 14.993 million, close to the historical peak (ATH is 15.029 million), while the total supply of bitcoins younger than 6 months has not increased significantly since 2023, hovering around 4.298 million BTCs, which means that bitcoins older than 6 months are generally in a dormant state. In addition, Glassnode also found that only 4.123% of all the transactions sold were Bitcoin older than 6 months.

Bitcoin older than 6 months is currently in a dormant state

Interpretation of the news:


The world of cryptocurrencies is buzzing with the news that the total supply of bitcoins that are over six months old has almost hit a historical peak of 14.993 million. With the all-time high (ATH) supply at 15.029 million BTCs, this news has sent shockwaves throughout the market. The report also suggests that the supply of bitcoins that are younger than six months hasn’t increased significantly since 2023 and has remained around 4.298 million BTCs. This means that a massive chunk of bitcoins that are more than six months old are primarily in a dormant state.

Several cryptocurrency analysts have attributed this massive growth in the dormant BTC supply to the soaring price of BTC. For the past few months, bitcoin has been on an unstoppable rise, and many investors are holding on to their bitcoins, waiting for things to cool down. The dormant BTC supply is essentially the stash of bitcoins that has not moved within the last six months, and it is likely that many long-term investors are holding on to their BTCs as a long-term store of value, rather than as a currency for daily transactions.

To bolster this idea further, Glassnode, a blockchain analytics firm, found that only 4.123 percent of all transactions sold to date were Bitcoin older than six months. This low percentage of transactions involving older BTCs reinforces the theory that older BTC investors are in it for the long haul and are not treating it as a currency but as a form of investment for long-term wealth creation.

In conclusion, while many BTC investors are leaning towards holding rather than spending their BTCs, the dormant BTC holders are still holding their positions despite the soaring prices. Whether this trend will continue is anybody’s guess, but for the time being, it is clear that old, dormant BTC holders will continue to dominate the market. However, as the market keeps growing and becoming more diverse, it is essential also to keep an eye on new investors, who could pose a threat to the status quo.

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