Analyst: 15M Inactive BTC Signals Exhausted Selling Pressure

inactive BTC — Blockware Intelligence Head Analyst Mitchell Askew argues that Bitcoin‘s recent rally, despite macro headwinds, is supported by on-chain data showing a record 15 million BTC held by long-term investors, indicating selling pressure may be nearly exhausted.

In a Bitcoin Magazine interview, Askew pointed to the all-time high in long-term holder supply this summer as a key signal. He interprets this massive amount of inactive supply as a sign that sellers are scarce, leaving more room for the price to appreciate. The analyst also noted that recent inflows into U.S. spot Bitcoin ETFs suggest institutional buyers are returning to the market.

Askew discussed the evolving nature of Bitcoin’s four-year market cycles, suggesting future drawdowns may be shallower as adoption grows. The conversation also covered topics like the impact of AI data centers on mining economics and generational shifts in asset allocation.