Bitcoin Long-Term Holders Refrain from Selling as Dormant Activity Hits New Low

Dormant Bitcoin activity has reached its lowest level since Q3 2022, according to research from Galaxy Research.

The analytics firm observed a significant decline in movement of older coins between August 16 and 26, with only 553 BTC moving from six old wallets during this period.

This trend suggests that long-term holders are increasingly reluctant to part with their assets, reducing sell pressure in the market.

The reduced dormancy comes at a time when Bitcoin is testing the $81,000 mark, supported by momentum from U.S. government Treasury purchases.