Dormant Bitcoin Comes Back to Life as 4.65M BTC Reenters Circulation in 2025

Why It Matters

The surge of dormant supply injects significant liquidity and profit‑taking pressure into the market, potentially reshaping price dynamics and signaling a shift in long‑term holder sentiment. It also underscores the influence of macro‑level cycles, such as post‑halving peaks, on Bitcoin’s distribution patterns.

Summary

In 2025, long‑term Bitcoin holders revived 4.655 million BTC – roughly $500 billion – after a year of sideways trading around the $100,000 level. Of that, 1.91 million BTC came from assets dormant two years or more, 844,000 BTC from 1‑2‑year holders, and 1.9 million BTC from 6‑12‑month holders. More than 470,000 BTC held for over five years, worth about $50 billion, changed hands, marking the second‑largest single‑year outflow on record. Combined with 2024, the two years saw $104 billion in dormant coins moved, representing 78 % of all five‑plus‑year‑old Bitcoin ever spent in dollar terms.