Dormant Bitcoin movement declined in the second quarter to its lowest level since the third quarter of 2022, indicating that long-term holders have reduced distribution after periods of elevated profit-taking. The coin-days-destroyed metric, which assigns greater weight to older coins, recorded a comparable drop.

Earlier increases in dormant coin activity reflected long-term holders realizing gains in a pattern resembling the 2017 bull market. Distribution remained elevated through 2024 and 2025 before slowing. Dormant coin movement measures Bitcoin that has stayed inactive for prolonged intervals before being spent. Heightened activity from these holders has historically aligned with profit-taking and increased selling pressure, while lower readings suggest a preference for continued holding.