Long-term Bitcoin holders sell nearly 50K BTC – marking 2023 high
Long-term Bitcoin (BTC) holders sold almost 50,000 BTC on May 15, setting a record for the amount of Bitcoin sold this year.
Long-term Bitcoin (BTC) holders sold nearly 50,000 BTC on May 15, setting a record for such sales this year.
This measure represents revived supply or the amount of the Bitcoin supply that has re-entered circulation after remaining untouched.
Addresses that held Bitcoin for more than one year sold 18,000 BTC on May 15 — while addresses that held Bitcoin for more than two years sold 17,000 BTC. Addresses that held Bitcoin for more than three years sold 17,000 BTC.
Bitcoin has seen higher revived supplies in the past months. Notably, it saw revived supplies of 110,000 BTC and 95,000 BTC in November 2022, representing sales of $2 billion and $1.6 billion, respectively. Bitcoin also saw a revived supply of 100,000 BTC in June 2022, representing sales of approximately $2.4 billion.
Bitcoin currently has a higher market value than it had in those months, meaning that its latest revived supply (50,000 BTC) is worth more than $1 billion. It is, therefore, close to past revived amounts in terms of dollar value.