Over 60% of Bitcoin hasn't moved in over a year The last time the proportion of BTC held for over a year without moving hit its peak was 70.5% of the total circulating supply. That was back in December 2023, when Bitcoin's price was still under $40,000. After that, this percentage started to decline. It's understandable—long-term investors began hesitating and considering selling as BTC's price climbed above $40,000. The lowest point came in December 2025, exactly two years later, when BTC's price dropped from $120,000 back down to $92,000. At that time, the proportion of BTC held for over a year was 58.374% of the total circulating supply. This period marked a time of indecision and selling among long-term investors. After this, as BTC's price continued to dip, the proportion of BTC held for over a year actually started to increase. This indicates that after December 2024, many new buyers were unwilling to sell, or older investors were reluctant to reduce their holdings. At that time, BTC's price was right around $100,000. This also suggests that investors who bought in at prices between $40,000 and $100,000 had mostly exited. It's very likely that prices below $100,000 would no longer easily shake out investors who have held for over a year.