Bitcoin Investors Taking Profits as Inactive Supply Drops

• Percentage of bitcoin supply inactive for 1+ years has declined from 70% to 65.8% in 3 months • Likely indicates some investors taking profits as bitcoin price has surged 148% since April 2022 • Inactive supply percentage lowest since October 2022 • Decline marks shift from long-term holding strategy seen in 2023 • Unclear exactly what percentage of inactive coins were liquidated, but some sold for profits