Recent data indicates that 70% of long-term Bitcoin holders are currently in profit, which may help stabilize prices during market fluctuations. The amount of Bitcoin held by conviction buyers, defined as long-term investors, has surged to nearly 4 million BTC, marking a 300% increase since late 2025. This significant accumulation, particularly by large holders like MicroStrategy (MSTR), which now holds 818,869 BTC valued at around $4.6 billion in unrealized gains, suggests a tightening liquid supply on exchanges. Analysts believe that this shift could create conditions for a future supply shock if demand increases. The total amount of Bitcoin in circulation is currently 20.03 million BTC. The trend of long-term holding indicates that a growing share of Bitcoin's realized value is being absorbed by entities that rarely transact, thereby reducing the liquid supply available on the market. This structural change in the market could enhance Bitcoin's scarcity narrative, making future demand surges more impactful.