Bitcoin Long-Term Holder Selling Slows as Dormant BTC Transfers Fall to Four-Year Low

Bitcoin selling pressure from long-term holders has eased sharply, with dormant BTC transfers dropping to their lowest level in four years.

Cointelegraph reported on July 26 that Alex Thorn, head of research at Galaxy, published 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, Thorn said, calling it a pattern similar to the 2017 Bitcoin bull market. The active distribution by long-term holders seen across 2024 and 2025 has now slowed significantly, he added.

Coin Days Destroyed, a metric that assigns greater weight to older coins, also declined. The measure of dormant coin transfers tends to rise when long-idle Bitcoin starts moving again, and historically, increased activity by long-term holders has coincided with stronger selling pressure.