Bitcoin has moved above a key price level that analysts had flagged as a major hurdle, and this shift is drawing renewed attention to who actually holds the coin.
In recent months, around 830,000 BTC has moved out of short-term trader wallets, pushing the share of Bitcoin held by long-term addresses to 78%, up from 74% in the previous cycle. Data from on-chain tracking firm Alphractal shows this is one of the biggest shifts seen in recent times. As more supply gets locked away in long-term wallets, the amount available for active trading keeps shrinking. That tightening supply tends to support prices when demand stays steady. With fewer coins in circulation, selling pressure during price drops is usually weaker. Reports indicate that long-term holders have been steadily absorbing supply relative to price movements, which has led to thinner liquidity across the market.
๐ณ๐ด.๐ฏ% ๐ผ๐ณ ๐๐ง๐ ๐๐๐ฝ๐ฝ๐น๐ ๐ถ๐ ๐ป๐ผ๐ ๐ณ๐ฟ๐ผ๐๐ฒ๐ป ๐ถ๐ป ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ๐บ ๐ต๐ฎ๐ป๐ฑ๐. ๐จ๐ฝ ๐ณ๐ฟ๐ผ๐บ ๐ณ๐ฐ.๐ญ%. That 4.2 percentage-point shift = roughly 830,000 BTC migrated from short-term to long-term cohort over the cycle. STH conviction is crumbling, LTH convictionโฆ pic.twitter.com/aL8pTSk3Js โ Alphractal (@Alphractal) May 9, 2026
Bitcoin recently broke through a resistance zone between $78,000 and $80,000, which had been acting as a bearish barrier. According to one analyst, that zone has now flipped to support, and the next target to the upside is $90,000. But the setup carries risk on both sides. If that newly established support level fails, a pullback toward $68,000โand possibly as low as $60,000โbecomes a real possibility. Reports note that tighter liquidity zones increase the chance of sharp moves at key price levels, making the $78,000 area especially important for short-term direction. A rejection at $82,000 could also be enough to swing momentum back toward the bears, according to the same analysis.
Looking at the bigger picture, things are less clear. Bitcoin is still in a corrective phase after reaching an all-time high of $120,000, with lower highs and lower lows forming despite brief rallies. The price remains below resistance at $97,000, a level analysts say would need to be reclaimed to signal a stronger trend shift.
Two major supply zones between $79,000 and $94,000 continue to sit overhead, acting as a ceiling for the current rally. A support channel has been forming since prices bounced from around $59,000. The data points to a market where long-term conviction is rising, but short-term direction remains uncertain. Whether buyers can hold the ground they’ve gained will likely shape the next major move.
Frequently Asked Questions
Here is a list of FAQs about the fact that nearly 80 of Bitcoins supply has not moved in a long time written in a natural tone with clear answers
BeginnerLevel Questions
1 What does it mean that 80 of Bitcoin hasnt been moved
It means that four out of every five Bitcoins in existence have not been sent to another wallet or spent in at least a year They are just sitting in their current address untouched
2 Is that a good thing or a bad thing for Bitcoin
Most people see it as a good thing It shows that a huge number of holders believe Bitcoins price will go up in the future so they arent selling This reduces the amount of Bitcoin available to buy which can help support the price
3 Who are the people holding this Bitcoin
They are mostly longterm investors early adopters who bought Bitcoin years ago and people who have lost access to their wallets It also includes some institutional investors who buy and hold for the long term
4 If no one is moving it how is Bitcoin still being used
The 80 is just the supply that hasnt moved recently The remaining 20 is actively traded on exchanges used for payments or moved between wallets Thats plenty of supply for daytoday transactions
5 Does this mean the price will definitely go up
Not necessarily While low supply usually supports higher prices it doesnt guarantee it The price can still drop if demand falls if theres bad news or if those holders suddenly decide to sell
AdvancedLevel Questions
6 How do you actually measure unmoved supply
Analysts use blockchain data to track the last time a Bitcoin was sent from one address to another If a coin hasnt moved in over 1 year 2 years or 5 years its counted as longterm held This data comes from public blockchain explorers
7 Doesnt this just mean a lot of Bitcoin is lost forever
Partially yes A portion of that 80 is definitely lost However most analysts believe the majority is still controlled by living holders who are simply