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The share of BTC supply represented by coins that were previously dormant for between two and three years also fell from 12.20% to 11.58% — a relative decline of nearly 5% over November, while coins that had not moved for between one and two years dropped from 17.87% to 17.13% — a relative drop of 4%.

Surprisingly, short-term on-chain Bitcoin transfers fell during November, with the share of supply that last moved between one day and one week sliding from 3.72% at the start of the month to 2.94% on Nov.

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