The percentage of Bitcoin supply that has been inactive for at least a year has dropped to 65.8%, an 18-month low

PANews reported on April 9 that the percentage of Bitcoin supply that has been inactive for at least a year has dropped to an 18-month low of 65.8%, according to data from blockchain analysis company Glassnode. The decline may indicate that some investors are choosing to take profits as the market rises. Bitcoin prices have surged 148% since April last year and are already up 50% since almost a dozen spot exchange-traded funds (ETFs) began trading in the United States. Currently, Bitcoin is trading at $70,400. MacroMicro’s data tracking website notes that the decrease in the percentage of inactive BTC is a “leading indicator of the end of the bull market.” However, past data shows that bull markets tend to peak when the percentage of inactive supply bottoms out and starts to rise.