8.21M $BTC (41%) hasn't moved since 2022 or earlier.
That's nearly half the circulating supply locked up by diamond hands.
The other 59% (11.84M) has traded in the last 4 years—retail churn, miner dumps, and whale rotations.
Supply shock mechanics are real. When half the float refuses to sell, every liquidity event amplifies. This is why we see violent moves on low volume.
HODL culture isn't just memes—it's structural supply compression.
That's nearly half the circulating supply locked up by diamond hands.
The other 59% (11.84M) has traded in the last 4 years—retail churn, miner dumps, and whale rotations.
Supply shock mechanics are real. When half the float refuses to sell, every liquidity event amplifies. This is why we see violent moves on low volume.
HODL culture isn't just memes—it's structural supply compression.