The alluring term "supply squeeze" is bandied about by Bitcoin aficionados.

It alludes to the anticipated rise in Bitcoin supply that is expected as a result of the supply cap (there can never be more than 21 million bitcoins) and rising demand.

It remains to be seen if this materialises. Yet it does seem like a rising number of investors are holding Bitcoin. In fact, an all-time high of more than two-thirds of the supply has not changed in more than a year.

To be precise, 67.9% of the Bitcoin supply has not moved in over a year. It is incredibly high, especially in light of the scandals that have plagued the past year, including the crashes caused by LUNA, Celsius, and FTX, respectively.

The crypto market has been pillaged as a result of these scandals and the fastest monetary tightening in the larger economy, which has seen interest rates jump from about zero to nearly 5%.

Looking at the price movement over the past 12 months, Bitcoin has experienced more than its fair share of ups and downs, falling from $41,000 to $15,000 to its current price of $28,000. Yet, two thirds of the supply have remMake of it what you will, but Bitcoin is still a rather unliquid market, and with a decreasing supply, it is simple to see the narrative promoted by fans that the price will only grow if demand increases.

Of course, it is considerably more difficult to predict whether that demand will actually increase in the future.ained unchanged.

Even further, about 40% of the supply has been stationary for three years, close to 50% for two years, and 28% for five years.

Coins that are lost will undoubtedly be counted in these figures. Since 2009, when Bitcoin first appeared, many users have passed away, making it impossible to retrieve their currencies.

Simple incidents of missing keys and people still walking the Earth without their wallets are also possible. Let's not forget that, not very long ago, Bitcoin was only a niche Internet toy that traded for less than $1 a coin.

Not to mention that the above statistics contain Satoshi Nakamoto's enormous hoard of over 1 million coins, or over 5% of the total supply, which is unaccounted for.