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Dormant $BTC movement fell to its lowest level since the third quarter of 2022, Thorn reported, a reading it ties to long-term holders easing distribution following a stretch of heavy profit-taking.
What Thorn's data shows The metric at issue is dormant Bitcoin activity: the rate at which addresses that have held coins for extended periods begin moving supply.
That activity is the on-chain signature researchers associate with early Bitcoin accumulators, often called OGs, selling into the market.
Thorn's data puts the current reading at its lowest since Q3 2022, a span of roughly four years. Thorn said the slowdown follows a period of heavy profit-taking by long-term holders.
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