The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Sign in to access this content
Sign InIn a move reflecting a strong consolidation phase amid market volatility, analytical reports have revealed that long-term Bitcoin holders now control 84% of the total circulating supply. According to reports, the cryptocurrency climbed from levels of $54,000 to $58,000 in early July, triggering a migration of coins from speculative hands to conviction-based holders. This shift indicates diminishing activity among short-term holders following a period of significant price fluctuations.
This historic dominance comes at a time when Bitcoin Spot ETFs are seeing mixed flows, with funds like BlackRock (IBIT) and Fidelity (FBTC) maintaining stable holdings despite selling pressure from German government wallets and Mt. Gox distributions. Compared to previous market cycles, an 84% concentration is a key indicator of reduced sell-side pressure, as these holders typically retain assets for over 155 days, effectively tightening the liquid supply according to Glassnode data.
Looking ahead, traders are closely monitoring the impact of US economic data on crypto risk appetite, particularly following the ISM Services PMI which reached 54 on July 6, 2026. While current real-time price levels are unavailable at this snapshot, the market remains focused on upcoming Federal Reserve speeches to gauge the monetary policy trajectory, which serves as a primary driver for liquidity flows into digital assets.