Bitcoin’s illiquid supply has reached a record 14 million BTC
Over 70% of BTC is now held in wallets with minimal selling history
Whale accumulation and reduced exchange balances indicate potential supply shock
Surge in Long-Term Bitcoin Holdings
Bitcoin’s illiquid supply has reached an unprecedented 14 million BTC, accounting for over 70% of the total circulating supply. This milestone indicates a significant shift towards long-term holding, with investors moving their assets into wallets that show little to no history of selling.
In the past 30 days alone, approximately 180,000 BTC have transitioned into these illiquid wallets, marking the largest monthly increase since December 2022.
Whale Accumulation Intensifies
Large-scale investors, often referred to as “whales,” have been actively accumulating Bitcoin. Data reveals that wallets holding between 10 and 10,000 BTC have added over 83,000 BTC in the last month.
This trend suggests that major players are positioning themselves for long-term gains, further reducing the amount of Bitcoin available for trading on exchanges.
Implications for Market Dynamics
The increasing illiquidity of Bitcoin’s supply could lead to a supply shock, where demand outpaces the available supply, potentially driving prices higher. Historical data supports this, as similar patterns preceded significant price surges in previous bull markets.
With over 70% of Bitcoin now held in wallets with minimal selling activity, the market is poised for potential volatility, especially if demand continues to rise.
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