Bitcoin supply is getting tighter as long-term holders continue to keep their coins off the market. Data from Bitcoin financial services firm River Financial shows that 81% of circulating BTC has not moved for at least six months, leaving fewer coins available for active trading.
However, the supply shock has failed to push Bitcoin above $87K as it fell below $84K and entered a consolidation phase.
81% of Bitcoin Supply Remains Dormant
According to River Financial, about 16.3 million BTC has remained untouched for more than six months. With Bitcoin’s circulating supply near 19.7 million coins, only around 3.7 million BTC makes up the active float.
This means most Bitcoin holders are keeping their coins rather than selling or moving them between wallets and exchanges. The trend has become more visible as Bitcoin recovered roughly 50% from its June lows and moved above $87,000.
The shrinking active supply is largely linked to long-term accumulation. River Financial data shows long-term holders have added more than 3 million BTC since 2020.
At the same time, the movement of older coins has slowed sharply. Only about 300,000 BTC from older wallets moved during the first half of 2026, suggesting fewer long-held coins are returning to circulation.
This leaves fewer coins available for buyers and sellers across exchanges and trading platforms.
Meanwhile, while long-term holders keep Bitcoin off exchanges, institutional investors are also adding to their holdings through spot Bitcoin ETFs, which recorded $134.51 million in net inflows, bringing total weekly inflows to nearly $2.6 billion.
Retail Buyers Reverse Their Selling Trend
River’s data also shows a major change among retail investors. During the first half of 2026, retail holders sold a net 140,000 BTC.
However, that trend reversed in Q3, when they bought back more than 107,000 BTC.
Mid-sized “dolphin” wallets holding between 100 and 1,000 BTC have also increased their holdings. These wallets accumulated more than 113,000 BTC since mid-July, adding further pressure to the available supply.
Whale Activity Shows Heavy Buying and Selling
BTC is trading around $83,970, after recently pushing toward the $87,385 area. The important point is that whales are placing large orders on both sides of the market, creating a clear battle zone.
Between $85,122 and $87,000, large sell orders totaling around $37 million are placed. This creates a strong sell wall that could make it harder for Bitcoin to move above the $85K – $87K range.
At the same time, around $21.1 million in buy orders are placed between $82,000 and $83,500.
This makes the $82K–$83K area an important support zone, while $85K – $87K remains a major selling area.
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