Bitcoin Illiquid Supply Increases to 14.37 Million BTC Since January 2025
Bitcoin's illiquid supply has increased to 14.37 million BTC, up from 13.9 million BTC at the beginning of 2025, according to Glassnode data.
Key points include:
- Current circulating supply is approximately 19.8 million BTC.
- Over 72% of all mined BTC is classified as illiquid.
- Illiquid supply consists of BTC held by long-term investors and cold wallet holders.
- As more investors store Bitcoin, the liquid supply decreases, reducing market availability.
- This trend indicates increasing investor confidence and long-term conviction.
- A potential supply-side shock could occur if demand rises while supply remains limited.
The rise in illiquid BTC supports its narrative as a store of value and may exert upward pressure on prices amidst reduced miner issuance and growing market interest. This emphasizes liquidity analysis as an important factor for market sentiment and future price movements.