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Stagnant BTC reached 15 million BTC, unmoved in 6 months

source-logo  cryptoslate.com 07 January 2023 15:14, UTC

Glassnode data analyzed by CryptoSlate revealed that the total amount of Bitcoin (BTC) that was last active six months ago reached just below 15 million.

The chart below represents the total BTC supply that has stagnated for at least six months with the blue area. The data starts from 2010 and shows a steady increase except for short periods in 2018 and late 2021.

The total supply retreated to around 12 million in 2021 and recorded a 25% increase to 15 million.

The total volume of stagnant coins typically grows during bear markets because speculators and investors chasing massive returns on their short-term investments leave the market. However, patient long-term investors remain in the crypto sphere and take advantage of the affordable prices to accumulate funds.

The chart below captures a more detailed look into the total stagnant BTC supply. The green areas indicate an increase, while the red ones represent a decrease in the total supply levels.

The data shows that long-term holders sold around 300,000 BTC between mid-November and mid-December 2022, corresponding to the FTX collapse period. However, a clear green spike has been visible in the past 30 days, indicating that around 250,000 BTC have entered the old coins bracket by remaining stagnant for over six months.