Bitcoin Supply Inactive for a Year Slides to 18-Month Low of 65.8%

The percentage of bitcoin's circulating supply last active at least a year ago has declined from 70% to 65.8% in three months.The percentage of bitcoin's circulating supply that last moved on-chain at least a year ago has declined to the lowest since October 2022, according to data tracked by blockchain analytics firm Glassnode.

On Monday, 12.95 million BTC, equating to 65.84% of the circulating supply of 19.67 million BTC, remained unchanged for over a year, the lowest percentage since October 2022. The metric peaked above 70% with the debut of nearly a dozen spot exchange-traded funds in the U.S. in mid-January and has been falling ever since.

Since late December, the percentage of the circulating supply that has not moved in at least two years has declined to 54.% from 57.4%. The decline likely represents profit-taking by investors who held coins for one year and over and marks a shift from theThe urge to sell likely stems from bitcoin's massive 148% price surge since April last year and the 50% rally since the ETFs began trading in the U.S. At press time, bitcoin changed hands at $70,400. However, it's difficult to ascertain the exact percentage of bitcoin that left the inactive supply has been liquidated in the market.

According to the data tracking website MacroMicro, a decrease in the percentage of inactive BTC is a"Past data, however, show that bull markets tend to peak as the percentage of inactive supply bottoms out and begin rising.Edited by Oliver Knight.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Q2 Fundamental Forecast: Current Demand/Supply Imbalance is Driving Bitcoin HigherIn this article, we delve into the fundamental outlook for Bitcoin, examining significant market catalysts that may shape the trajectory of cryptocurrencies in the second quarter.
Source: DailyFX - 🏆 305. / 63 Read more »

Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year lowBTC reserves on Coinbase hit a 9-year low as Bitcoin accumulation is resuming.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin & Bitcoin Cash Among Top Crypto Gainers as Crypto Prices Pump: What About Green Bitcoin?Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin Cash & Bitcoin SV Pumping as Bitcoin Minetrix Nears Exchange ListingCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Dormant BTC Wallets Making Historic Moves; Will This Impact Bitcoin Price?Bitcoin has increased by roughly 128% year on year
Source: Utoday_en - 🏆 295. / 63 Read more »

Bitcoin (BTC) Hits $81,000 in Energy Value, What It MeansBitcoin's energy value index puts Bitcoin's fair value at $81,000
Source: Utoday_en - 🏆 295. / 63 Read more »