81% of $BTC supply (16.3M coins) hasn't moved in 6+ months. That's not just hodling—that's conviction.

Long-term holders stacked 3M+ $BTC since 2020. Only ~300K left older wallets in H1 2026.

Retail panic sold 140K $BTC in H1, then FOMO'd back 107K+ in Q3. Classic.

Supply shock math is simple: illiquid supply + relentless accumulation = squeeze incoming. Watch the tape.