CryptoQuant data signals early phase of Bitcoin bull market, old coins show record dormancy

Bitcoin onchain transaction data is pointing toward the initial phase of a new uptrend as long-term holders are showing reduced selling activity. Recent figures suggest that the realized cap share for coins dormant for 18 months or longer has stayed relatively stable since mid-September, slipping only slightly from 26.98% to 26.59%. According to CryptoQuant, a leading blockchain data analytics platform, investors holding Bitcoin for at least 18 months have become noticeably less active onchain since September 2025.