Bitcoin long-term holders own 84% of the supply

A striking signal is drawing the attention of Bitcoin analysts: the supply held by long-term holders is now as much as 5.2 times greater than the supply held by short-term investors. At the same time, the short-term supply is dropping to its lowest level since 2016. The Bitcoin price is currently around $64.000, a slight decline of 0.4% in the past 24 hours.

Bitcoin is available at OKX and Bybit.

Historically low short-term supply

According to data from Alphractal, long-term investors currently hold 84% of the total circulating supply, while short-term investors control only 16%. This puts short-term supply at a historic low, comparable to levels last seen in 2016. This is despite the fact that the total amount of Bitcoin in circulation has grown significantly in recent years.

The Alphractal chart shows how the ratio between long-term and short-term supply has shown peaks around market tops over the years, followed by a recovery towards long-term holders during quieter periods. The current situation resembles such a period of accumulation, where short-term players hold relatively little of the supply.

What does this mean for the market?

The analyst behind the tweet states that this is more than a simple statistic about supply. As more Bitcoin comes into the hands of investors with a longer time horizon, the directly available supply for sale decreases. If demand picks up while this structure remains intact, the market could become more sensitive to new capital inflows. Small amounts of new money could then cause a larger price movement than usual.

Earlier this month, the Bitcoin price followed a historical pattern in July 2026, and Bitcoin ETFs are attracting capital. Both developments align with the picture that the demand side of the market is picking up. Whether that is enough to significantly raise the price from the current level of $64.091 remains uncertain for now.