CryptoQuant analyst: The actual circulating supply of bitcoin is only 14.7 million

Jinse Finance reported that CryptoQuant analysts stated that 19.8 million bitcoin have been mined, of which about 5.1 million are permanently lost, leaving only 14.7 million in actual circulation. Moreover, this number irreversibly decreases with each cycle. The analysts divided bitcoin supply into three categories: Active circulation: 40.6%, Dormant for 1-7 years: 33.6%, Permanently lost: 25.7%. They also use the dormant/active ratio to determine the current market phase.