Mitchell Askew: 15 Million Bitcoin Held Long Term Points to Seller Exhaustion
Blockware analyst ties record idle bitcoin supply to weaker selling
Mitchell Askew, head of Blockware Intelligence, said the amount of bitcoin sitting still in long-term wallets reached an all-time high of 15 million BTC this summer. He made the comments in a Bitcoin Magazine video published on September 25, 2026.
Askew argues that so many coins staying idle points to seller exhaustion, meaning fewer holders are willing to sell. In his view, that leaves more room for the bitcoin price to move higher.
He also discussed what bitcoin exchange-traded fund (ETF) flows suggest about institutional buyers, meaning large professional investors, returning to the market.
Key points from the discussion
- Long-term holder supply hit an all-time high of 15 million BTC this summer, according to Askew.
- He reads that record as a sign that selling pressure may be nearly used up.
- He says the large amount of inactive bitcoin signals more room for price to run, which is his opinion rather than a confirmed outcome.
- The video also looks at bitcoin ETF flows and what they show about institutional buyers coming back.
Askew's claim about idle coins
The central claim in the video is that long-term holders are not selling, and that this points to limited remaining sell pressure. Askew connects that reading of on-chain data, which is data recorded on the bitcoin network itself, to the idea that the price has room to rise.
This is an interpretation of data, not a confirmed result. The source does not include the full figures behind the ETF flow discussion or any specific price forecast.
Other topics covered in the video
The video description lists several other subjects in the conversation. These include why Askew thinks the four-year halving cycle is breaking, AI data centers drawing computing power away from bitcoin mining, a bear market in hash rate, stranded energy and global mining, and whether members of Gen Z will save in bitcoin. The description also mentions shallower drawdowns and the future of bitcoin cycles.
The supplied material does not provide Askew's detailed arguments or numbers for these topics.
What is confirmed
- Bitcoin Magazine published the video on September 25, 2026, written by Patrick Green.
- Mitchell Askew is identified as head of Blockware Intelligence.
- Askew said long-term holder supply reached an all-time high of 15 million BTC this summer.
What is still unclear
The source does not give the underlying ETF flow figures, the exact data set behind the 15 million BTC figure, or any specific price target. The description states that bitcoin is rallying despite a Federal Reserve rate hike and the failure of the Clarity Act, but the supplied material does not detail those events.
The video carries a disclaimer stating that the views expressed belong to the participants and are for information and education only, not investment advice.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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