Illiquid Bitcoin supply hits 14 million BTC as hodlers set market record in a bull run.
Bitcoin hodler entities are more active than ever, with a record of 14 million BTC gaining status as "illiquid supply," with whales still accumulating above $100,000.
Bitcoin recorded the largest increase in illiquid supply in 30 days of this bull cycle.
The illiquid supply now totals 14 million BTC — the highest in history.
Whales continue to accumulate as the price returns to six digits.#BinanceAirdropNXPC
Bitcoin investors.
are making the BTC supply more illiquid than ever in the network's history.#BTC走势分析
Data from the on-chain analysis platform Glassnode shows that the “illiquid supply” of Bitcoin has reached a record of 14 million BTC.#TradeStories
Illiquid Bitcoin supply hits all-time highs.
BTC is increasingly being transferred into the hands of entities that do not sell what they acquire.
Glassnode, which monitors the share of the supply held by “illiquid entities,” reveals that this indicator has reached levels not seen since the beginning of the current bull cycle.
An entity is considered illiquid if the ratio between cumulative inflows and outflows of BTC is less than a certain value.
“This ratio generates a number L between zero and one, with larger values indicating greater liquidity,” explains the company in a dedicated guide.
“Liquidity is, therefore, the measure of how much an entity spends of the assets it receives. Illiquid entities are those that accumulate coins anticipating a long-term appreciation of BTC.”
This week, the illiquid supply surpassed 14 million BTC, with a cumulative increase of 180,000 BTC in the last 30 days — the largest jump since December 2022.
At that time, the previous bear cycle was coming to an end, with BTC/USD down 77%, reaching lows around $15,000.
