Bitcoin Illiquid Supply Reaches 14.3 Million BTC Amid Ongoing Accumulation
Bitcoin's illiquid supply reached a record high of over 14.3 million BTC in late August, according to Glassnode.
- 19.9 million BTC are currently in circulation, with approximately 72% classified as illiquid.
- This portion is held by long-term holders and cold storage investors.
- The increase occurred amidst market volatility, indicating sustained accumulation.
- In mid-August, Bitcoin peaked at $124,000 before dropping about 15%.
- Despite this price decline, the illiquid supply rose, showing holder resilience.
- In the last 30 days, illiquid supply increased by 20,000 BTC.
- Rising illiquid supply suggests tightening dynamics that may lead to renewed momentum.
This trend reflects growing confidence in Bitcoin as a long-term store of value.