Overview
Bitcoin’s illiquid supply, which refers to the amount of coins held by entities that infrequently spend their assets, has reached a prominent milestone. As of late August, it has surpassed 14.3 million BTC, marking an increase of 20,000 BTC within a month according to data from Glassnode.
With a total of 19.9 million BTC currently circulating, approximately 72% of Bitcoin’s total supply is now considered illiquid. This indicates that significant quantities of Bitcoin are being kept by long-term investors and cold storage users. The persistent growth in this segment demonstrates a steadfast accumulation trend, particularly in the face of market fluctuations.
Key Insights:
- Illiquid Bitcoin supply has reached 14.3 million BTC, rising by 20,000 BTC in a month.
- Despite a peak of $124,000 in mid-August, long-term holders continue to accumulate Bitcoin.
In mid-August, Bitcoin achieved an all-time high of $124,000 before experiencing a correction of about 15%. Despite this short-term price drop, Bitcoin’s illiquid supply maintained its upward trajectory, reflecting an unwavering resolve from holders.
The recent growth in illiquid supply suggests tightening market dynamics that may pave the way for renewed bullish momentum once investor sentiment improves. For now, this trend signals escalating confidence in Bitcoin as a stable long-term asset.
