Bitcoin long-term holder supply reached a new all-time high on July 21, according to on-chain data. The previous record of 16.64 million BTC — roughly 83% of the circulating supply — was set just a month earlier. The metric has been building steadily for more than two and a half years.
Record supply
The latest reading pushes the share of coins held by long-term investors even higher. Long-term holders are typically defined as addresses that have held their bitcoin for at least 155 days without moving it. The trend suggests that a growing portion of the circulating supply is being taken off the market by investors who aren't interested in selling.
What the metric means
Rising long-term holder supply is often interpreted as a sign of conviction among bitcoin investors. When coins move from short-term to long-term wallets, it reduces the amount of liquid supply available for trading. That dynamic can support price stability over time, though it doesn't guarantee short-term moves.
The current streak of accumulation has been underway since roughly early 2024. The previous all-time high was set in June 2026, and the metric has now surpassed that level by an unspecified margin.
The new record comes as bitcoin continues to trade in a range that has held for several months. While the price action has been relatively quiet, the supply-side data tells a different story — one of steady accumulation by the most committed cohort of holders.
The long-term holder supply metric can be slow to change. A single large transfer from an old wallet can shift the numbers, but the overall trend has been consistent for over two years. The next milestone to watch would be whether the metric can sustain its upward trajectory through the rest of 2026.
