According to data provided by Glassnode, 61.33% of the current supply of Bitcoin has not been touched in more than a year.
It surpassed a record high of 61.28% recorded on January 15, 2016 when the price of BTC was changing hands at $ 362.
The last time the idle bitcoin ratio was so high, the benchmark cryptocurrency began its glorious bull run at nearly $ 20,000.
However, it's worth noting that the price of Bitcoin took over a year to climb a new ATH of $ 1,120 on January 5, 2017, after reaching the previous peak of its idle supply.
This is why the bulls should not expect an immediate price appreciation this time.
Going back to the early days of Bitcoin, the price of the leading cryptocurrency really skyrocketed (from $ 1 to $ 29 in five months) after the percentage of non-moved coins hit a new high (29.22%) on February 17, 2011.