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The illiquid supply of Bitcoin has reached a new all-time high of 14 million BTC, marking a clear sign of increased activity from large entities, while whales continue to accumulate the digital currency despite high prices exceeding $100,000.

Data from the on-chain analytics platform Glassnode showed that the illiquid supply of Bitcoin experienced its largest increase over the past 30 days since the beginning of the current bull market, rising by 180,000 BTC, the biggest growth since December 2022. The numbers indicate that 14 million BTC is now under the control of entities that are not inclined to sell their holdings, reflecting growing caution among large investors.