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Bitcoin's 'Illiquid' Supply Soars to New All-Time High Near 15M Tokens

Author: Content Editor
The article highlights the presence of a significant sell wall at the $100,000 mark for Bitcoin, with $384 million worth of BTC available for sale. However, data suggests that there is building pressure for an upward move in price. The illiquid supply of Bitcoin, owned by long-term holders, has increased by over 185,000 tokens in the past 30 days, reaching an all-time high of 14.8 million BTC. This indicates that investors are currently more focused on holding rather than trading. Sales by long-term holders are also approaching their end, potentially easing sell pressure. Bitcoin has been leaving exchanges at a rapid rate since the start of the latest bull run, indicating increased investor demand. However, zooming out over a five-year period, Bitcoin on exchanges has remained relatively stable. To sustain the bull run, it is crucial for BTC to continue leaving exchanges as a sign of investor appetite rather than leverage-driven demand from derivatives. Overall, the illiquid supply of Bitcoin is increasing, while exchange balances are decreasing, intensifying Bitcoin's supply scarcity.

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