Bitcoin Dormant Movement Hits Four-Year Low Amid Slowing Selling Activity

Bitcoin's dormant movement has hit a four-year low in the second quarter, according to data shared by Alex Thorn, Galaxy’s head of firmwide research. This decline is reflected in both the coin days destroyed metric and its weighted version.

The decrease indicates that long-term holders have slowed down their selling activity, which was particularly high in 2024 and 2025. Thorn noted that earlier spikes were driven by 'OGs taking profit,' a pattern seen during Bitcoin's 2017 bull market.

Analysts closely monitor the dormant coin movement because increased activity from long-term holders has historically coincided with periods of profit-taking and heightened selling pressure, while subdued activity suggests those investors are holding rather than distributing their coins.