Bitcoin Dormant Supply Moved: 62% on Weekends

Approximately 3,790 Bitcoin (BTC) units that had been inactive for a long period moved between September 1 and 14. Sixty-two percent of the activity occurred on Saturday and Sunday. One wallet created in 2013 moved 113 BTC for the first time, with the transaction recorded at block height 966937 and valued at approximately $8.8 million (KRW 118 billion) at that time. Bitcoin.com News reported on the movement but did not confirm whether it led to selling.

The data covers addresses created between 2010 and 2017. The count includes movements from wallets with no withdrawal history for years, calculated for transactions between September 1 and 14. BTCparser tracks addresses that have had no withdrawals since creation and hold over 10 BTC, monitoring 64,529 such addresses. A significant movement occurred on September 6 when 1,260.776 BTC moved from a wallet created in 2016, accounting for about one-third of the monthly dormant supply. Total movements from 2016-created addresses during this period totaled 1,450.83 BTC.

Notably, concentrated movement was observed from wallets created in specific years. For example, approximately 600 BTC moved from a wallet created in 2010 on September 5. Including eight 2013-created wallets each moving 25 BTC, the September activity showed concentration among certain address groups. Weekend transactions also made up a large portion of the total.

Bitcoin.com News suggested that this movement might reflect planned actions like wallet consolidation or storage changes rather than immediate market reactions. However, distinguishing between intentional moves and actual selling remains difficult without further data on whether funds entered exchanges or were traded afterward. In August, 6,427.59 BTC moved across 188 transactions; July's total was 1,264.16 BTC.

Dormant Bitcoin refers to coins that have re-emerged from long-inactive addresses. Movements between wallets could indicate transfers to new wallets, storage changes, or consolidation without necessarily signaling market supply. Transactions alone do not confirm whether funds entered exchanges or were traded afterward. Therefore, the September movement does not provide clear insight into Bitcoin's price direction or selling pressure.