Bitcoin's 30-day active supply has decreased by 17% in recent weeks, and on-chain transfer activity has significantly cooled. This trend is highly similar to the state before the price rebound at the end of 2024—when active supply contracted, Bitcoin's price subsequently experienced a strong increase.

As of August 24, 2025, the supply ratio for one week to one month has dropped to a historical low of only 3.8% of the total supply. This data indicates that more holders, including institutions, tend to prefer a 'long-term holding' strategy, and the overall trading frequency in the market has noticeably decreased. $BTC