Bitcoin's Long-Term Holders Now Control Over 15 Million BTC — Here's Why That Makes New Lows 'Extremely Slim'

WHY IT MATTERS

Think of Bitcoin's total supply like a limited-edition collectible — there will only ever be 21 million. Now imagine that over 15 million of those collectibles are locked away by people who refuse to sell them. That means there are very few left circulating for new buyers to purchase. 'Long-term holders' are people who have held their Bitcoin for at least about five months without selling — they're the committed believers. When this group controls more and more of the supply, it's like a game of musical chairs with fewer and fewer chairs available. This tends to push prices up over time and makes it very hard for prices to crash to new lows, because there simply aren't enough sellers willing to part with their coins.