Dormant Bitcoin wallets made a notable return to activity in 2025, moving a combined 123,852.58 BTC, now valued at over $11 billion. Data shows that more than 1,000 long-inactive addresses—many untouched for over a decade—were reactivated during the year, offering rare insight into early-era bitcoin holdings and long-term holder behavior.
According to figures compiled by Btcparser, this activity was heavily concentrated among wallets created during bitcoin’s earliest adoption phase. Addresses dating back more than ten years accounted for the majority of dormant spending, highlighting how early adopters continue to influence on-chain supply dynamics even today.
‘Sleeping Bitcoin’ Addresses Moved Nearly 124,000 BTC
Btcparser’s version-one tracking system monitors more than 60,000 so-called “sleeping bitcoin” wallets—addresses created between 2009 and 2017 that had never moved funds until their first recorded spend.
Compared with 2024, dormant wallet behavior shifted noticeably:
- 2009-era wallets showed no spending at all
- 2010 wallets recorded fewer transactions
- 2011 wallets, however, were responsible for the most dramatic activity of the year
The standout moment came in July 2025, when a small cluster of 2011-created wallets transferred over 80,000 BTC in a single month. This made July a clear statistical outlier, accounting for nearly two-thirds of all dormant-address spending recorded throughout the year.
Subsequent disclosures revealed that these transfers were linked to a single early bitcoin holder who partnered with Galaxy Digital to gradually offload holdings. Those coins were once valued at nearly $9 billion, though their value at the time of sale had declined to just over $7 billion.
A Year of Reawakened Bitcoin Supply
Btcparser’s 2025 analysis draws on monthly records that track bitcoin spent by addresses that had remained inactive since their creation. By definition, these wallets had never previously moved funds before appearing in the dataset.
Over the full year:
- 1,047 dormant wallets became active
- Nearly 124,000 BTC was spent in total
- Most months saw 1,500–6,000 BTC in dormant spending, excluding July
Monthly breakdown highlights:
- January: 3,412.52 BTC from 88 wallets
- February: 1,549.41 BTC from 66 wallets
- March: 2,145.06 BTC from 67 wallets
This steady first-quarter pattern suggested routine, measured reactivations rather than panic selling.
Midyear Acceleration Culminates in July Spike
Momentum increased during spring:
- April: 4,681.14 BTC spent by 100 wallets
- May: 5,798.34 BTC spent by 93 wallets, largely from 2013–2015 vintages
Activity briefly cooled in June, with only 1,671.45 BTC spent by 43 dormant addresses. That pause was short-lived.
In July, dormant wallets created between 2010 and 2017 collectively moved 83,865.75 BTC, eclipsing the combined total of the previous six months and marking the most significant dormant-wallet event of 2025.
What This Means for Bitcoin Markets
While the reactivation of long-idle wallets often attracts attention and speculation, the 2025 data suggests that dormant spending remains episodic rather than systemic. Even large movements were largely attributed to individual early adopters executing structured exits rather than widespread sell-offs.
As a result, dormant wallet activity continues to be more of a historical and behavioral signal than a direct indicator of immediate market pressure.
**This is not any financial advice.
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