Bitcoin's Illiquid Supply Reaches New High as Long-Term Holders Increase Accumulation
Despite a 15% decline from August’s all-time high, illiquid holdings of Bitcoin continue to grow.
Bitcoin's illiquid supply has soared to a record 14.3 million coins, reflecting the ongoing trend of long-term holders accumulating the cryptocurrency. This milestone comes amidst a 15% decrease from August's peak, indicating resilience in the face of market volatility.
The data suggests that investors with a long-term outlook remain confident in Bitcoin's potential, opting to hold onto their assets rather than engage in short-term trading. This behavior could signal a belief in the digital currency's future value and utility.
Illiquid supply refers to coins that are held off exchanges, making them less available for immediate trading. This accumulation by long-term holders may indicate a shift towards a more hodl-centric strategy within the Bitcoin community.