Over 30% of Bitcoin’s supply has not moved in the past 5 years

Data from IntoTheBlock shows that over 30% of Bitcoin's supply has not moved in the past 5 years. Many first-generation blockchains (such as Bitcoin) use the UTXO model to record user funds. Based on UTXO data, it is possible to observe the holding time of holders before spending funds. Although some of the unmoved bitcoins may be lost, most of them may belong to long-term holders. This indicates that despite market fluctuations, there is still a group of steadfast Bitcoin believers.