Bitcoin’s illiquid supply breaches 15 million mark as short-term holder supply increases
Quick Take
- Bitcoin illiquid supply has hit a new all-time high of 15.056 million.
- As a percentage of the circulating supply, that is roughly 78%.
- Analyzing HODL waves, which examine the supply bands holding Bitcoin, is most interesting.
- If we take a deep dive into the short-term holder cohort, who have held Bitcoin for less than six months.
- We can examine that they hold over 20% of the supply, while their supply has jumped in the last week.
- We expect the illiquid supply to continue to increase as this cohort bought Bitcoin in Q4 2022 and Q1 2023 and will hopefully turn into long-term holders.
HODL Waves: (Source: Glassnode)
Illiquid Supply: (Source: Glassnode)
Original Article: https://cryptoslate.com/insights/illiquid-supply-hits-all-time-high-roughly-78-of-the-circulating-supply/
