币界网报道：Over 14 million Bitcoin, worth approximately $600 billion at current prices, are now held in long-term cold storage as investors continue to demonstrate strong conviction amid market volatility. Data from on-chain analytics firm Glassnode reveals these dormant coins haven't moved in over five years, representing nearly 75% of Bitcoin's circulating supply. The trend signals growing adoption of "HODLing" strategies, particularly since the 2022 market downturn when accumulation patterns intensified. Notably, about 40% of this inactive supply (5.6 million BTC) hasn't budged for a decade, suggesting early adopters remain committed despite Bitcoin's 15,000% price appreciation since 2013. Market analysts observe this reduced liquidity could amplify price movements when demand increases, as fewer coins are available for trading. The accumulation coincides with institutional adoption through spot Bitcoin ETFs, which now hold over 850,000 BTC collectively. Experts suggest this supply squeeze, combined with April's halving event that reduced new Bitcoin issuance by 50%, may create favorable conditions for price appreciation if demand persists. However, some caution that macroeconomic factors like interest rate policies could still influence short-term volatility. The data underscores Bitcoin's evolution from speculative asset to long-term store of value, with a significant portion of holders unwilling to sell even at all-time high prices.