More than 50% of all Bitcoins (BTC) in circulation are inactive

 Bitcoin accumulation and holding continues, and reluctance to sell means many BTC will go dormant.

 According to data from on-chain analytics provider Glassnode, more than half of the Bitcoin supply has fallen.

 When inactive, it means that the coins have not moved in the past two years. Additionally, the active offering rate last more than two years ago hit an all-time high of 53%.

 After nearly two years of hovering around 45%, the amount of inactive BTC has increased in 2023. This shows that those who bought more than two years ago are not willing to sell.

 Many of those who bought in the last bull market will still be at a loss at this point. After all, Bitcoin is still trading nearly 60% below its all-time high reached in November 2021.

 BTC Price Outlook

 Bitcoin price was up 2% during the Asian session on Monday morning. As a result, BTC hit a 5-day high of $28,500 before dropping slightly again.

 As of this writing, the asset is trading for less than $28,300.

 https://bit.ly/3mdftkE