CryptoQuant data shows the share of Bitcoin's realized cap held by coins unmoved for 18 months or longer slipped from 26.98% on Sept. 16, its highest since mid-November 2024, to 26.59%. CryptoQuant says a similar pattern has preceded past Bitcoin bull markets and sees the market in the early stages of a new cycle. Long-term holders have reduced onchain spending, and coins unmoved for five years or more have averaged about 34,000 BTC a month in 2026, half the 2024 level. Galaxy Digital described the current bear market as the shallowest on record, with a maximum drawdown of -53% from all-time highs. The 18-month-to-two-year cohort is now in net loss, with a cost basis of $93,193.
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Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/26/2026 | 80,150.56 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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