Dormant Bitcoin Wallets Awaken: Long-Held BTC Nears 2024 Peak Movement Levels
Sleeping giants stir in the Bitcoin ecosystem as untouched wallets spring back to life.
The Lazarus Effect
After years of hibernation, ancient BTC stacks are on the move again—edging dangerously close to 2024's frenzy levels. These aren't your average traders cashing out; these are the original HODLers testing the waters.
Market Tremors
Every reactivated wallet sends shockwaves through derivatives markets. Exchanges see leveraged positions adjust as whales flex their dormant muscle—just when analysts thought liquidity couldn't get tighter.
The Cynic's Corner
Wall Street still can't decide if this is 'digital gold' or a speculative asset—meanwhile, the OG crypto crowd keeps stacking sats between martinis. Some things never change.
Long-Lost Bitcoins Stir As 2024 Levels Near
An unanticipated change is occurring in the Bitcoin ecosystem, as BTCs that were previously thought to be lost or untouchable have displayed an unexpected movement in 2025. CryptoQuant, a leading on-chain data and analytics firm, outlined the notable performance in a post on the X platform.
With several months left until 2025 comes to an end, the number of these coins being moved is already nearing its 2024 peak. On-chain data show that dormant coins of more than seven years are coming online at a rate that has not been observed since 2024. It is worth noting that there has been a sharp increase in the movement of these coins within the last two years.
This development points to a potentially crucial moment in the dynamics of Bitcoin’s supply and market sentiment, as its price fluctuates NEAR recent highs. CryptoQuant stated that this is not just another bull market phase; it is a structural replacement. The platform further added that the price is only the tip of the iceberg in this cycle; the true shift is in who controls the future.
According to the report shared by CryptoQuant, over 255,000 dormant or lost BTC were reactivated in 2024 alone. Meanwhile, the quantity of dormant coins reactivated has already surpassed 215,000 BTC in 2025, with several months still left in the year.
While a large portion of dormant BTC is being moved, the platform highlighted that the trend goes deeper than total volume. The platform points to a substantial increase in both BTC’s average monthly volume and average transaction size, signaling a strong wave of market participation and growing investor confidence.
In the last two years, Bitcoin’s average monthly volume has surged from 4,927 BTC in 2023 to 30,674 BTC in 2025. Additionally, its average size per transaction has increased from 162 BTC to 1,011 BTC within the same time frame. CryptoQuant claims that these spikes are now planned reallocations of large amounts of capital rather than dispersed retail transactions.
BTC Bull Market Might Be Nearing Its End
While this bull market has been quite remarkable, with bitcoin achieving several highs, some key indicators suggest that the current bull phase might be approaching its end. The latest signal comes from the key BTC Net Unrealized Profit/Loss by Cohort metric.
After examining the chart, it is observed that long-term holders are exhibiting great commitment and determination to hold as they continue to operate in solid profit territory (NUPL above 0.5). Meanwhile, short-term holders are fluctuating close to lower profit levels, which indicates partial selling or short-term pressure. According to CryptoQuant, long-term holders’ conviction is driving the general trend, which is still bullish, but short-term holders may temporarily exert corrective pressure.
