Nearly 25% of Bitcoin's total supply has remained unmoved for over seven years, according to data from the HODL Waves chart. This trend underscores a significant shift in holder behavior, with long-term investors maintaining their positions through various market cycles. The increasing dormancy of Bitcoin supply suggests a more stable market environment, driven by conviction rather than short-term speculation. Additionally, bear markets appear to be reinforcing this trend, as more coins become inactive with each cycle.