According to new research from CryptoQuant, long-term holders revived record Bitcoin supply in 2024 and 2025. The sales came from coins dormant two years or more and accelerated after prices passed $40,000.
Unspent transaction outputs (UTXOs) for these older coins spiked beginning in 2024. The revived supply approaches the distribution seen near the 2017 peak at about $20,000.
Contributor Kripto Mevsimi highlighted the scale and age of the coins involved. “What stands out is that 2024 and 2025 record the highest annual revived supply from long-term holders in Bitcoin’s history,”
CryptoQuant noted the revival coincided with lower market noise than previous cycles. They said long-term holders began reassessing exposure after prices passed $40,000.
Early 2026 data did not show a full reversal, and revived supply moderated from 2024–2025 peaks. “Bitcoin is not only undergoing a price cycle, but potentially a transition in who holds it and why—and long-term holder supply behavior is one of the clearest on-chain signals of that shift,”
