Supply by Investor Behavior
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- ValueValue
- ShareShare
About this metric
What it measures
Supply by Investor Behavior reports BTC balances assigned to five modeled categories: First buyers, Momentum buyers, Conviction buyers, Profit takers and Loss sellers. Each series is a supply amount in BTC, not a count of investors or a daily trading-volume measure.
How to read it
Compare which labeled groups expand or contract over time. Momentum buyers reached about 11.99 million BTC on February 15, 2021, while Conviction buyers peaked at roughly 5.04 million BTC on April 8, 2015; these different dates show that the categories capture distinct patterns rather than a single common cycle curve.
Behavior labels are inferred and do not establish a holder's motive or an executed trade. Exact assignment thresholds are not specified here, and the supplied groups do not account for all circulating BTC in the latest observation, so they should not be assumed to form an exhaustive partition of supply.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Cohorts
- Type
- Breakdown
- Unit
- BTC
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
FAQ
Does First buyers mean the number of new Bitcoin users?
No. The series is denominated in BTC and represents supply assigned to that model label. Neither an address nor a behavioral category is a verified person.
Does Loss sellers show how many BTC were sold at a loss today?
No. This is a supply series under a behavior label, rather than daily loss-making spent volume. Use a spent-volume or realized-loss metric to examine daily loss realization.
Should these five behavior groups add up to total supply?
Do not assume that they do. In the October 17, 2026 snapshot, their combined balance is about 16.75 million BTC, below the roughly 20.10 million BTC shown in the supply breakdowns.
