Cryptocurrency

Stagnant BTC reached 15 million BTC, unmoved in 6 months

Hull Invest

Glassnode data analyzed by crypto slate It revealed that the total amount of Bitcoin (BTC) that was last active six months ago was just under 15 million.

The chart below shows the total supply of BTC that has been stagnant in the blue area for at least 6 months. Data start in 2010 and are steadily increasing, except for brief periods in 2018 and late 2021.

BTC supply stalled for 6 months
BTC supply stalled for 6 months

Total supply will recede to around 12 million units in 2021 and then increase by 25% to a record 15 million units.

The total amount of stagnant coins usually increases during bear markets. This is because speculators and investors leave the market looking for big returns on short-term investments. However, patient long-term investors have stayed in the crypto space and are accumulating funds taking advantage of affordability.

The chart below shows the total stagnant BTC supply in more detail. Green areas show increases and red areas represent decreases in total supply levels.

BTC Stagnant Supply Changes
BTC Stagnant Supply Changes

The data shows that long-term holders sold around 300,000 BTC between mid-November and mid-December 2022, which corresponds to the collapse period for FTX. However, we have seen a distinct green spike in the last 30 days, indicating that around 250,000 BTC has entered the old coin bracket after being stagnant for over six months.

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