The availability of Bitcoin is becoming increasingly limited as long-term holders refrain from selling their assets. Data from River Financial, a Bitcoin-focused financial services company, reveals that 81% of the circulating BTC has remained untouched for more than six months, resulting in a scarcity of coins for active trading.
Despite this tightening supply, Bitcoin’s price has struggled to rise above $87K, recently dropping below $84K and entering a consolidation stage.
81% of Bitcoin Supply Remains Dormant
As reported by River Financial, approximately 16.3 million BTC has not been moved in over six months. With the current circulating supply of Bitcoin at around 19.7 million coins, this leaves just about 3.7 million BTC available for active trading.
This situation indicates that a majority of Bitcoin holders prefer to keep their coins rather than sell or transfer them. This trend has become evident as Bitcoin has bounced back roughly 50% from its June lows, briefly reaching levels above $87,000.
The diminishing active supply is primarily attributed to long-term accumulation. Data from River Financial shows that long-term holders have accumulated over 3 million BTC since 2020.
Simultaneously, the transfer of older coins has significantly decreased. Only around 300,000 BTC from older wallets changed hands in the first half of 2026, indicating that fewer long-held coins are becoming available again.
This dynamic results in fewer coins being accessible for trading on exchanges and trading platforms.
In the meantime, while long-term holders retain their Bitcoin away from exchanges, institutional investors are increasing their stakes via spot Bitcoin ETFs, which saw net inflows of $134.51 million, bringing total weekly inflows close to $2.6 billion.
Retail Buyers Reverse Their Selling Trend
River’s data highlights a significant shift among retail investors. In the first half of 2026, retail holders sold a total of 140,000 BTC.
However, this trend reversed in Q3, with retail investors repurchasing over 107,000 BTC.
Additionally, mid-sized “dolphin” wallets, which hold between 100 and 1,000 BTC, have also increased their holdings. These wallets accumulated over 113,000 BTC since mid-July, further tightening the available supply.
Whale Activity Shows Heavy Buying and Selling
Currently, BTC is trading around $83,970, following a recent attempt to push towards the $87,385 level. A critical observation is that whales are making large orders on both sides of the market, resulting in a notable zone of tension.
Large sell orders totalling approximately $37 million are concentrated between $85,122 and $87,000. This creates a formidable sell wall that may challenge Bitcoin from breaking beyond the $85K–$87K range.
Concurrently, around $21.1 million in buy orders are positioned between $82,000 and $83,500.
This establishes the $82K–$83K range as a significant support zone, while the $85K–$87K area remains a crucial resistance point.