[CryptoQuant Analyst: Bitcoin's Actual Circulating Supply is Only 14.7 Million] According to a report by Jinse Finance, CryptoQuant analysts state that 19.8 million Bitcoins have been mined, of which approximately 5.1 million are permanently lost, leaving only 14.7 million in actual circulation. Moreover, this number irreversibly decreases with each cycle. The analysts categorize Bitcoin supply into three groups: Active circulation: 40.6% Dormant for 1-7 years: 33.6% Permanently lost: 25.7% They also use the dormant/active ratio to assess the current market phase.