• A recent analysis of Glassnode data by CryptoSlate revealed that the total amount of Bitcoin (BTC) that was last active six months ago reached just below 15 million.
• The total supply of stagnant coins typically grows during bear markets as speculators and investors leave the market.
• A clear green spike in the past 30 days shows that around 250,000 BTC have entered the old coins bracket by remaining inactive for more than 6 months.

Recent analysis of Glassnode data by CryptoSlate has revealed that the total amount of Bitcoin (BTC) that has been inactive for more than 6 months has reached just below 15 million. This data, which starts from 2010, shows a steady increase in the total supply of stagnant coins, with the exception of short periods in 2018 and late 2021.

The total supply of stagnant coins typically grows during bear markets as speculators and investors leave the market, chasing massive returns on their short-term investments. However, patient and long-term investors remain in the crypto sphere and take advantage of the affordable prices to accumulate funds.

A more detailed look into the total stagnant BTC supply reveals that between mid-November and mid-December 2022, long-term holders sold around 300,000 BTC, corresponding to the FTX collapse period. However, a clear green spike has been visible in the past 30 days, which shows that around 250,000 BTC have entered the old coins bracket by remaining inactive for more than 6 months.

This increase in the number of stagnant BTC coins is an indication that the current bear market is benefitting long-term investors, as they are taking advantage of the current low prices. This is also likely to have a positive effect on the market in the long-term, as the more BTC that are held by long-term investors, the more stable and secure the crypto market will become.