Old coin reactivation has fallen to its lowest level since 2012, a combination K33 Research says points to weak selling pressure in Bitcoin.
Long-term holders now control 79% of Bitcoin supply, marking a new all-time high, while old coin reactivation has dropped to its lowest level since 2012, according to K33 Research. The combination suggests weak selling pressure, as a larger share of supply is being held by investors with lower turnover and fewer older coins are returning to circulation.