Bitcoin Supply Unfazed by Price Bump

River Financial's recent newsletter paints a picture of a Bitcoin market where most supply is sitting still, locked away by holders who appear uninterested in selling. According to River's data, more than four out of every five Bitcoin in existence haven't budged in at least six months.

This 81% dormancy figure comes at an interesting time. Bitcoin's price has climbed roughly 50% from its June lows, yet trading volumes have cratered 30% year-to-date and ETF inflows have been running below average.

The data reveals that long-term holders have added over 3 million BTC to their positions since 2020, pulling supply off the market and into cold storage or long-duration wallets. Meanwhile, movement from older coins has slowed to a trickle, with roughly 300,000 BTC changing hands during the first half of 2026.