61% of bitcoin’s circulating supply has remained untouched for more than a year, mirroring the conditions leading up to the last BTC bull-run. 

According to data compiled by crypto analytics firm Glassnode, the amount of bitcoin remaining dormant for one year or more has reached an all-time high of 61.33%. The previous high was established at 61.28 percent on Jan 15, 2016, when the price of BTC was still trading for $360. 

Glassnode data shows the last time bitcoin achieved an all-time high for unmoved bitcoin was in the lead up to 2017’s epic bull run, which took the price of BTC to $20,000. 

Other community members are skeptical about the significance of dormant bitcoin addresses. Some have pointed to the last all-time high in dormant bitcoin occurring nearly two years before the price peak at $20,000, indicating BTC may have months or more before beginning on another bull run. 

Twitter user JosephCrypto highlighted previous peaks for untouched bitcoin occurring in 2012 and 2014, with the latter failing to generate a bull run. 

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