Bitcoin long-term holder metrics have reached new all-time highs, according to Alex Thorn, head of research at Galaxy Research. Thorn said supply held for at least 10 years now accounts for 17.7% of Bitcoin’s total supply. He also disclosed that long-term holders now control 16.75 million BTC, while their realized capitalization has climbed to $836.4 billion. The average cost basis for this cohort has reached $50,000.
The figures point to a market where a large share of coins remains tightly held rather than returning to active circulation. Thorn said that even with the average holding cost at $50,000, long-term holders have continued to refrain from selling. In his view, that behavior is keeping effective circulating supply under pressure and helping form a price floor for Bitcoin.
Long-term holder metrics set fresh records
Bitcoin long-term holder metrics have all reached record highs, according to Alex Thorn, head of research at Galaxy Research.
Thorn said supply held for at least 10 years now makes up 17.7% of Bitcoin’s supply. Long-term holders collectively hold 16.75 million BTC. Their realized capitalization stands at $836.4 billion, and their average cost basis has reached $50,000.
Available supply remains tight
The data suggests that a large amount of Bitcoin remains locked up by long-term holders. Thorn said that even with the cohort’s average cost basis at $50,000, they have not sold, leaving effective circulating supply tighter.
He added that long-term holder behavior is building floor support for Bitcoin’s price.
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