As Bitcoin's illiquid supply reaches the highest level ever, accounting for 75% of total supply, the amount of Bitcoin on exchanges has dropped to its lowest level in four years, indicating a scarcity of supply for price increases.
Bitcoin's illiquid supply reached 75% of the total supply, hitting a record high of 14.8 million BTC, while the amount of Bitcoin on exchanges dropped to almost the lowest level in four years, falling below 3 million BTC. Experts note that this situation could have long-term effects on the price of Bitcoin.
According to Glassnode data, illiquid supply represents the amount of Bitcoin that is not actively traded by long-term investors. In the past 30 days, this amount has reached a record level with an increase of 185,000 BTC. This increase indicates that a large portion of investors are inclined to accumulate rather than sell. The net addition of 2,000 BTC by long-term investors since the end of November signals a decrease in selling pressure and strengthens positive sentiment in the market. This accumulation process could serve as a foundation for further price increase, especially as it approaches the psychological resistance level of $100,000.
Bitcoin Supply on Exchanges Decreasing
With the recent bull run, Bitcoin has started to be rapidly withdrawn from exchanges. The amount of Bitcoin held on exchanges has now dropped below the lowest level in four years, which is 3 million BTC. This indicates that investors intend to hold onto their Bitcoins for the long term and are avoiding selling. Additionally, the decreasing supply on exchanges is creating significant changes in the supply-demand balance of Bitcoin, exerting upward pressure on the price.
Bitwise Research Director Andre Dragosch said, "The scarcity of Bitcoin is increasing; while **75% of the total supply is illiquid, the ratio on exchanges is below 14%. This indicates that the value of Bitcoin could further increase," Dragosch stated. He emphasized that this scarcity is an important dynamic that could push the price of Bitcoin higher in the long term.
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Another Record Has Come in Bitcoin: There is No BTC Left to Buy, the Price Will Soar Even Higher! - Coin Bulletin
As Bitcoin's illiquid supply reaches the highest level ever, accounting for 75% of total supply, the amount of Bitcoin on exchanges has dropped to its lowest level in four years, indicating a scarcity of supply for price increases.
Bitcoin's illiquid supply reached 75% of the total supply, hitting a record high of 14.8 million BTC, while the amount of Bitcoin on exchanges dropped to almost the lowest level in four years, falling below 3 million BTC. Experts note that this situation could have long-term effects on the price of Bitcoin.
According to Glassnode data, illiquid supply represents the amount of Bitcoin that is not actively traded by long-term investors. In the past 30 days, this amount has reached a record level with an increase of 185,000 BTC. This increase indicates that a large portion of investors are inclined to accumulate rather than sell. The net addition of 2,000 BTC by long-term investors since the end of November signals a decrease in selling pressure and strengthens positive sentiment in the market. This accumulation process could serve as a foundation for further price increase, especially as it approaches the psychological resistance level of $100,000.
Bitcoin Supply on Exchanges Decreasing
With the recent bull run, Bitcoin has started to be rapidly withdrawn from exchanges. The amount of Bitcoin held on exchanges has now dropped below the lowest level in four years, which is 3 million BTC. This indicates that investors intend to hold onto their Bitcoins for the long term and are avoiding selling. Additionally, the decreasing supply on exchanges is creating significant changes in the supply-demand balance of Bitcoin, exerting upward pressure on the price.
Bitwise Research Director Andre Dragosch said, "The scarcity of Bitcoin is increasing; while **75% of the total supply is illiquid, the ratio on exchanges is below 14%. This indicates that the value of Bitcoin could further increase," Dragosch stated. He emphasized that this scarcity is an important dynamic that could push the price of Bitcoin higher in the long term.