ChainCatcher message, the illiquid supply (i.e., the amount of Bitcoin held by entities with almost no spending history) exceeds 14.3 million BTC, setting a new historical high. In the past 30 days, the net increase in illiquid supply has reached 20,000 BTC. Of the currently circulating 19.9 million BTC, about 72% of the total supply is in an illiquid state, held by long-term holders and cold storage investors. This growth highlights that even during recent market fluctuations, there is still a consistent accumulation trend.

In mid-August, Bitcoin reached a historical high of $124,000, and then fell about 15%. Despite the price pullback, the illiquid supply continues to rise, indicating that holders have not sold off due to short-term adjustments.