CryptoQuant founder: Recently, the average dormancy time of BTC has reached a five-year high, and new players are suspected of entering the market.

CryptoQuant founder Ki Young Ju posted on the X platform that the BTC held by some ancient addresses is moving, probably through over-the-counter transactions. Just a few days ago, the BTC average sleep time (SMA 30) reached a five-year high. Note: The average dormancy time describes the average amount of currency age destruction of BTC traded on the chain within a certain time range. The greater the average dormancy time, the longer the dormancy time on the BTC chain, and the earlier the BTC re-enters the active circulation market. , increasing the BTC circulation in the short-term market. He further added that these BTC do not seem to come from GBTC, and their trading dates do not coincide with the peak of CDD (Coins Days Destroyed). He also pointed out that in his opinion this is a bullish indicator in the long term because it indicates the entry of new players. According to previous news on January 18, according to Arkham monitoring, nearly 50,000 dormant BTCs woke up after the Bitcoin spot ETF was approved.