Exchange-Bound Share of Six-to-12-Month Bitcoin Movement Falls to 4.4%

Bitcoin (BTC) held for six to 12 months and sent to exchanges accounted for 4.4% of that cohort’s movement over the latest 30-day period, down from 40.4% in mid-June and easing a potential source of selling pressure.

The exchange-bound share was 30.9% in mid-July, 9.8% in mid-August and 3.7% in mid-September before reaching 4.4% in mid-October. Monthly movement in the cohort ranged from 143,700 to 216,500 BTC.

The coins largely came from buyers who entered near or after Bitcoin’s 2025 peak. Selling by those buyers had largely stopped, reducing resistance to further gains, while fresh buying had yet to appear clearly.

The lower share does not establish a recovery in demand. It means a smaller proportion of the cohort’s monthly movement went to exchanges, while total monthly movement remained within the reported range. The data add a six-to-12-month view to earlier signs of declining long-term holder exchange inflows.