65% of the total amount of bitcoin has been dormant for at least a year

According to a study by analytical company Glassnode, 65% of the total bitcoin issue (about 12.35 million BTC) has been idle for at least a year.

The analysts' data show that 45% of the market supply of the first cryptocurrency (8.55 million BTC) has not moved for more than two years, and 38% - for more than three years. 4.37 million BTC, or 23% of the total issue, have been idle for more than five years, a figure that is approaching a new all-time high.

Earlier, Anthony Scaramucci, the head of SkyBridge Capital, said that the worst part of the bear market cycle is over. He believes that bitcoin is unlikely to fall below the $ 17,500 minimum it has already reached in this cycle.

Scaramucci also concluded that the fair market value of BTC is around $ 40,000.