81% of Bitcoin Supply Unmoved for Six Months or More as Retail Turns Buyer
Long-term holders have added more than 3 million BTC since 2020. Individual investors net sold 140,000 BTC in the first half of 2026 and have bought more than 107,000 BTC so far in the third quarter.
About 81% of Bitcoin (BTC) supply has not moved in at least six months, while individual investors who sold in the first half have turned to net buying in the third quarter.
Bitcoin is up roughly 50% from its June 2026 lows, and most of the coins in circulation have stayed put through the rebound.
Long-term holders have added more than 3 million BTC since 2020 and continue to accumulate. About 300,000 BTC moved out of long-held cohorts in the first half of 2026.
Retail and individual holders shifted the other way. They net sold 140,000 BTC in the first half of 2026, then bought more than 107,000 BTC so far in the third quarter.
What dormancy tracks
Dormancy metrics measure how long coins have sat at the same address. A high share of old, unmoved supply is commonly read as a sign of strong holder conviction and a thin pool of coins available to sell.
The 81% reading covers coins that have been still for six months or more. The retail swing, from net seller in the first half to net buyer in the third quarter, is the change within that picture.
Old coins still move
Dormant coins do sometimes wake up. On Sept. 24 at about 10:30 p.m. ET (2:30 a.m. UTC on Sept. 25), a Bitcoin wallet inactive for more than four years moved 4,500 BTC, worth about $381.38 million, to an unidentified wallet. The destination was not identified as an exchange.
That wallet's dormancy is measured in years, a separate yardstick from the six-month threshold behind the 81% figure.
