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Long-term Bitcoin (BTC) holders sold nearly 50,000 BTC on May 15, establishing a record for such sales in 2023.
This metric represents revived supply, which is the amount of Bitcoin that has re-entered circulation after remaining untouched for an extended period.
Addresses holding Bitcoin for more than one year sold 18,000 BTC on May 15. Addresses holding Bitcoin for more than two years sold 17,000 BTC, while addresses holding Bitcoin for more than three years also sold 17,000 BTC.
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Revived Supply: (Source: Glassnode)
Bitcoin has experienced higher revived supplies in recent months. Notably, it recorded revived supplies of 110,000 BTC and 95,000 BTC in November 2022, representing sales of $2 billion and $1.6 billion, respectively. Bitcoin also saw a revived supply of 100,000 BTC in June 2022, representing sales of approximately $2.4 billion.
Bitcoin currently has a higher market value than it did in those previous months, meaning that its latest revived supply of 50,000 BTC is worth more than $1 billion. Consequently, the dollar value of this recent activity is close to past revived amounts.
