Bitcoin

Bitcoin Supply Which Has Been Dormant For At Least 5 Years Has Reached ATH

Data from online chain analysis firm Glassnode confirms that the percentage of Bitcoin supply that is idle for at least 5 years is higher than ever.

Bitcoin has recovered nearly 40% from a macro low of $17,600 just two months ago, but for the cryptocurrency’s diamond hand, that was not an event.

BTC daily chart. Source: CoinCu

Those who bought BTC in 2017 or earlier continue to hoard their coins despite market fluctuations.

On August 18, the percentage of Bitcoin supply that has been inactive for at least 5 years hit a new ATH of 24.351%. As a result, almost a quarter of the circulating supply (19.12 million BTC) has not been brought to market since 2017 or earlier.

Annotated BTC chart is inactive for at least 5 years. Source: Glassnode

While recent months have been marked by massive sell-offs, especially among institutional investors, it thus seems unlikely that real holders are fazed by the current narratives.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.