Bitcoin illiquid supply hits 14M BTC as hodlers set bull market record
Summary
Bitcoin (BTC) supply is becoming increasingly illiquid, reaching a record 14 million BTC, according to Glassnode. This illiquid supply indicates that Bitcoin is being held by entities that do not sell their holdings. The 30-day rolling increase in illiquid supply is 180,000 BTC, the largest since December 2022. Illiquid entities are defined by a low ratio of cumulative BTC inflows to outflows, suggesting they hoard coins for long-term price appreciation. Institutional participation in Bitcoin investment is rising, with corporate treasuries and US spot Bitcoin ETFs contributing to its mainstream appeal. Bitcoin whales have accumulated 83,105 BTC in the past 30 days, while smaller retail investors are reportedly panicking.
