📅 September 7 | United States
The Bitcoin market is experiencing a defining moment: The amount of BTC held by long-term holders and out of active circulation reached 14.3 million coins, an all-time high, according to data published by CoinDesk. This milestone reflects a structural shift in investor behavior, where the HODL mantra is consolidating over short-term speculation.
📖 Bitcoin's illiquid supply refers to coins held by investors who show no intention of selling in the short term, either because they are stored in cold wallets or because they have not moved for months. With this new record of 14.3 million BTC, more than 70% of the circulating supply is, in practice, outside exchanges and the market available for sale.
Analysts emphasize that this phenomenon is due to several factors:
Long-term confidence: Holders view Bitcoin as a superior store of value, even amid macroeconomic uncertainty.
Real scarcity: With only 21 million BTC ever existing, the fact that 14.3 million are locked up limits the liquid supply and could increase upward pressure.
Institutions and treasuries: More and more companies and funds are accumulating Bitcoin on their balance sheets as a strategic asset.
One researcher warned: “Growing illiquidity reduces the stock available on exchanges. When a strong wave of demand arrives, the market could experience explosive price movements.”
The “digital gold” narrative is strengthening: if the trend continues, the tradable supply could fall below 4 million BTC in the coming months. This means that any increase in demand—from spot ETFs to large corporate buyouts—would have an even greater impact on volatility and the price.
Topic Opinion:
Bitcoin is no longer just a speculative asset: it is consolidating as a global strategic asset, held by investors who think in terms of decades, not days. However, this extreme accumulation also poses a challenge: the market will be more volatile when massive buying flows arrive, because there will be less liquidity to absorb them.
💬 Do you think this record illiquid supply is the prelude to a major bull run?
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