Dormant Bitcoin Movement Hits Lowest Point Since 2022

The movement of long-dormant Bitcoin (BTC) has slowed significantly in the second quarter. According to Alex Thorn, head of firmwide research at Galaxy, this metric fell to its lowest level since the third quarter of 2022.

This trend is also reflected in Coin Days Destroyed, another metric that gives more weight to older coins. A slowdown in dormant coin movement often indicates a reduction in selling pressure from long-term holders.

In the past, heavy movement from these holders has lined up with profit-taking and increased selling pressure. Thorn compared this pattern to Bitcoin's 2017 bull market, suggesting that long-term holders have slowed their selling after heavy selling in 2024 and 2025.