Cryptocurrency analysts are confident that the wave of Bitcoin redistribution has come to an end

The current cycle of activity among long-dormant Bitcoin wallets is one of the most intense in the history of the first cryptocurrency. According to Galaxy Digital, in terms of scale, it is second only to the record-breaking surge of 2017, when Bitcoin’s price skyrocketed. Similar surges in activity among «dormant» coins were also observed in 2021 and 2024.

Galaxy Digital’s chief analyst, Alex Thorne, believes that as early as 2026, the number of «awakened» old bitcoins will decrease significantly. According to his forecast, the volume of such coins will be less than half of the 2025 figure. Thorn views this as a sign that the large-scale redistribution of the asset among long-term holders is coming to an end.

The most active phases of movement of long-held coins traditionally coincide with periods of strong market growth, according to Galaxy Digital data. The company’s chart shows clear peaks in such activity in 2017, 2021, 2024, and 2025.

Thorn also touched on the topic of quantum computing. According to him, some large investors do indeed view the threat of super-powerful quantum computers as a deterrent to buying Bitcoin. However, none of the sellers cited quantum technology as the actual reason for exiting the asset.

Meanwhile, analysts at the Arkham platform recorded the transfer of 2,650 bitcoins from one of the wallets created during the network’s first year of existence. The coins, with a total value of approximately $ 203 million, were transferred to the over-the-counter platforms FalconX and Cumberland.