Dormant BTC activity falls to lowest level since Q3 2022

Dormant BTC activity has fallen to its lowest level since the third quarter of 2022, according to Galaxy Research. Galaxy Research said long-term holders are overwhelmingly more likely to maintain their positions than sell. From Aug. 16 to 26, only 553 BTC moved from six old wallets, which Galaxy Research described as an exceptional case rather than a typical pattern. The firm added that when older coins do not move, they do not flow to exchanges, do not create selling pressure, and do not test market liquidity. With BTC testing $81,000 amid momentum from U.S. government Treasury purchases, Galaxy Research said the trend supports further upside rather than downside. The current structural outlook remains positive, it added, as lower circulating supply pressure reduces resistance to price gains.