Bitcoin Dormancy Hits Record Low Since Q3 2022
Dormant Bitcoin activity has plummeted to its lowest level since Q3 2022, according to Galaxy Research. The analytics firm observed that between August 16 and 26, only 553 BTC moved from six old wallets.
This is an exceptional case rather than a typical pattern, as older coins that do not move do not flow to exchanges, do not create selling pressure, and do not test market liquidity.
Galaxy Research believes this trend supports further upside rather than downside, as lower circulating supply pressure reduces resistance to price gains.