According to CryptoQuant analyst Darkfost, 3.56 million BTC have not moved on-chain in over ten years, representing approximately 17.7 % of the circulating supply. This category of Bitcoin considered lost has reached a historical threshold, with 14,000 additional BTC added to this dormant stock over the past 30 days. This method relies on CryptoQuant’s UTXO Age Bands, which classify each unspent transaction output by age, but ten years of inactivity does not necessarily mean the permanent loss of private keys. In July 2025, 80,000 BTC dormant for fourteen years suddenly woke up, demonstrating that no coin permanently leaves circulation as long as its private key still exists.
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