Bitcoin Long-Term Holder Selling Slows as Dormant BTC Transfers Hit Four-Year Low
Forecast Trend Report by Period
Selling pressure from long-term Bitcoin holders has eased sharply, with transfers of dormant BTC falling to their lowest level in four years.
Cointelegraph reported on July 26 that Alex Thorn, head of research at Galaxy, shared data showing dormant Bitcoin transfers in the second quarter fell to their lowest since the third quarter of 2022.
Earlier rallies were driven by profit-taking from early investors, a pattern similar to the 2017 Bitcoin bull market, Thorn said. The active distribution by long-term holders seen across 2024 and 2025 has now slowed markedly.
Coin Days Destroyed, a metric that assigns greater weight to older coins, also moved lower. The measure of dormant coin transfers tends to rise when long-idle Bitcoin starts moving again, and historically, heavier activity from long-term holders has coincided with stronger selling pressure.
