81% of Bitcoin supply hasnβt moved in 6+ months. So where is all the BTC going?
Data from River shows that around 16.3M BTC, or 81% of the Bitcoin supply, hasnβt moved for at least 6 months.
Basically, a huge chunk of BTC is just being held by holders, instead of being moved around or traded in the short term.
Think about it like this: there are 100 BTC. Only 20 BTC are actively moving around, while the other 80 BTC are just sitting in holdersβ wallets.
If more BTC keeps getting held for longer periods, the amount of BTC actively moving around the market becomes smaller.
But one thing to keep in mind: 81% doesnβt mean 81% of Bitcoin holders donβt want to sell. This metric measures BTC supply that hasnβt moved for 6+ months, not the number of people or wallets.
So basically, a huge portion of BTC is currently being held rather than moved around.
That doesnβt automatically mean BTC will go up, though. Price is still affected by things like demand, liquidity, market conditions, and sentiment.
If less BTC is actively moving in the market while demand suddenly increases⦠what do you think happens?