The Velocity indicator shows how often Bitcoin is traded, reflecting the overall speed of its circulation. Dormancy, on the other hand, measures how long Bitcoin remains motionless before being moved.

Since 2024, Velocity remains at its lowest levels in nearly a year. Even when the price increased from $35k to $73k, the flow of Bitcoin in the market did not increase significantly. Dormancy, on the other hand, rose sharply in March 2024, reaching a new all-time high (ATH), indicating a Bitcoin move that has persisted for several years.

The fact that Velocity did not increase despite Dormancy's rise indicates that investors are generally holding Bitcoin for the long term (HODL). However, with the price rising significantly, some long-term holders did sell their holdings. This shows that while there has been some movement, overall liquidity in the market remains low.