Data compiled by Woofun AI shows that the supply of Bitcoin held by long-term investors has reached a record high, a metric suggesting the bear market may be nearing its conclusion. Research firm K33 highlighted that while the 2024-2025 period saw significant reactivation of older Bitcoin coins likely sold at historical highs, activity in 2026 has dropped sharply. As of June 6, only 218,421 Bitcoin coins were reactivated, marking a substantial decrease in on-chain sell pressure. This figure is comparable only to 2012, when 70,600 coins older than two years moved, contrasting starkly with the 1.18 million reactivations seen by June 6, 2024. The decline in older coin activity implies long-term holders are retaining assets, allowing patient investors to absorb excess supply.