74% Of Bitcoin Stays Put For 6 Months As Investors Bet On Long-Term Value Despite Price Drop

About 74% of Bitcoin (BTC) has remained dormant for over six months, indicating an increasing trend among investors to view BTC as a long-term store of value.

Just a week ago, Glassnode reported that around 45% of BTC's supply had been inactive for at least six months. Since then, the percentage of dormant BTC has risen to over 70%.

Short-term Bitcoin holders are experiencing losses. Analyst James Check observed that over 80% of short-term Bitcoin investors (those holding BTC for less than 155 days) are currently in the red, as they purchased BTC at prices higher than its current value.

Check noted that similar market conditions occurred in 2018, 2019, and mid-2021, which often led to panic selling and a bearish trend.

Despite the negative market sentiment, trader and analyst Rekt Capital believes that BTC could potentially enter a parabolic breakout following the April halving. Historically, BTC has experienced significant growth around 160 days after the event, suggesting the possibility of a surge in September.