Bitcoin’s Illiquid Supply Reaches All-Time High Amidst Market Volatility
- Bitcoin’s illiquid supply surpassed 14.3 million BTC in late August, according to Glassnode.
- Currently, there are 19.9 million BTC in circulation, with approximately 72% classified as illiquid.
- In mid-August, Bitcoin reached an all-time high of $124,000 before declining by about 15%.
- Over the past month, the net change in illiquid supply has increased by 20,000 BTC.
- The increase indicates a trend of sustained accumulation among long-term holders and cold storage investors.
The rise in Bitcoin’s illiquid supply reflects a growing confidence among investors despite recent price fluctuations. This trend suggests that many holders are viewing Bitcoin as a long-term store of value.
With over 14.3 million BTC now held in an illiquid state, this indicates a significant commitment from long-term holders amidst market volatility.(Source)
