IntoTheBlock data shows that more than 30% of the bitcoin supply has not moved in the past 5 years. Many first-generation blockchains, such as bitcoin, use the UTXO model to record user funds. According to UTXO data, it is possible to observe the holding time of the holder before spending the funds. Although some of the unmoved bitcoins may be lost, most may belong to long-term holders. This shows that despite the market volatility, there is still a group of committed bitcoin believers.