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Bitcoin hovers around $80k, with long-term large holders continuing to increase their holdings

B*tfinex citing data from BitGo states that the Bitcoin inflow into long-term, low-activity holders has approached 4 million coins, an increase of about 300% compared to the end of 2025. More chips are shifting from tradable markets to long-term accumulation, causing spot circulation supply to continue tightening.

Two quarters of increased holdings amplify

The report points out that this round of long-term buying is one of the strongest two-quarter increases since the COVID-19 pandemic impact in 2020. The related holders include individual investors, institutional funds, and corporate treasuries.

Based on an estimated Bitcoin price of about $80,000, this portion of holdings has a market value of over $320 billion. CoinDesk data shows that the current circulating supply of Bitcoin is approximately 20.03 million coins.

Bitcoin core developer Jameson Lopp said that the above long-term holdings do not include about 5.6 million Bitcoin that have not moved for over 10 years. This means that the growth in this round more reflects new accumulated chips rather than assets that have been static historically.

Strategy continues to absorb supply

The article mentions that publicly listed company Strategy remains one of the most watched long-term buyers. The company recently increased its Bitcoin holdings to 818,869 coins, with a total purchase cost close to $62 billion, and currently has an unrealized profit of about $4.6 billion.

Market analysts believe that as more Bitcoin enters the hands of such low-activity entities, the supply available for trading in the open market will decrease. If demand picks up again later, the tight supply could amplify price volatility.

Mati Greenspan, founder of Quantum Economics, said that although BitGo’s statistics on “high conviction buyers” are not yet fully clear, broader signals are worth noting. Historically, tightening of liquid supply combined with demand resurgence often drives faster Bitcoin price increases.

About 70% of new buyers are in profit

Research from CEX.IO also offers a similar view. The firm states that about 70% of recently purchased Bitcoin are already in profit, which usually weakens the impulse to sell during short-term pullbacks and provides some price support.

CEX.IO believes that when more new investors return to profit zones, the pressure to exit during small declines usually decreases, making price movements more stable.

Ran Hammer, Vice President of Business Development at Orbs, said that as channels for borrowing against Bitcoin holdings increase, some long-term holders are more inclined to continue accumulating rather than sell directly. This is also changing the actual available supply for sale in the market.