Bitcoin holders cling more and more to their coins

The Bitcoin Network (BTC) was conceived as a decentralized financial system that allows transmitting value from person to person without intermediaries, eliminating the dependence of central entities. But an alternative narrative has gained ground among currency users created by Nakamoto. Bitcoin’s idea as a value reserve, an asset capable of preserving long -term wealth, It has been strengthenedand metric ON-CHAIN They confirm it.

68% of Bitcoin’s supply remains motionless

The Blockware firm analyst who on the social network X is known as Mitchell has shared data that reinforce that growing narrative. According to your calculations, 68% of BTC’s total supply has not moved over a period of 155 days or more.

The following graph provided by Mitchell allows you to deepen this dynamic. The image shows the evolution of Bitcoin’s price against the US dollar (BTC/USD, with the black line) from January 2022 to May 2025, along with the amount of bitcoins that have not moved throughout that period (orange area), represented in millions in the right axis.

In the period analyzed by Mitchell (the last 155 days, almost 5 months), it is observed that the immobile supply has grown up in a sustained wayreaching a peak of 14.5 million BTC in May 2025. This volume effectively represents about 68% of the total circulating total supply, which is currently estimated at around 19,870,000 BTC.

As cryptootics reported, medium and long -term holders, those who maintain their immobile bitcoins in their wallets during periods that go from 3 to 15 years, concentrate more than half of total supply that has not moved in 2025.

On-chain data, a confidence indicator for Bitcoin?

The evolution of the price in the graph also reflects relevant moments indicated by Mitchell. In January 2024, when the motion coincided with a climbing bullish close to $ 70,000.

For October of that same year, with a new increase in the total supply concentrated in the hands of long -term holders, the BTC price was close to $ 62,000 and again coincided with a rise that, in that case, led BTC to BTC at $ 100,000 for the first time in its history.

Green arrows in the graph mark those periods of accumulation, that coincide with price increasesreinforcing the hypothesis that supply immobility can be A trust indicator In the future value of Bitcoin.

Finally, and while BTC’s price is at 109,000 dollars at the close of this wording, according to Coinmarketcap, Mitchell closed its report ensuring that “Bitcoin is about to climb much more”, projecting a bullish scenario in which long -term holders increase again.