Volume Of Bitcoin Illiquid Supply Points To Growing Bullish Sentiment
The way bitcoin holders move the BTC in and out of their wallets can often be a strong indicator of where the market might be headed next. Not just the movements of the asset, but where they are being moved to. An example of this is when more investors are moving their holdings to exchanges, which means that sell sentiment has risen and investors are dumping their coins, and vice versa. In this same line, looking at the liquid and illiquid supply of bitcoin can also be another strong indicator. And this time around, the percentage of bitcoin supply that remains illiquid point towards a....
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Onchain statistics show 78% of the circulating bitcoin supply is illiquid and barely accessible according to Glassnode research. Data indicates that the analysts have classified 14.5 million bitcoin as illiquid and only 4.2 million bitcoin in constant circulation. One of the most treasured parts of the Bitcoin (BTC) protocol is the fact that the system is mathematically provable, and bitcoins are scarce. When Satoshi Nakamoto created the crypto asset, the inventor set the supply cap to end at 21 million coins issued and today, there’s approximately 18.58 million BTC in circulation.....
Around 76% of the total circulating Bitcoin supply is now illiquid according to on-chain analytics from Glassnode. Bitcoin markets have been consolidating since the beginning of the year, but on-chain metrics are painting a more positive picture as more of the asset is becoming illiquid.On-chain analytics provider Glassnode has been delving into Bitcoin supply metrics to get a better view of the longer-term macro trends in its weekly report on Jan. 3.The findings revealed that although the asset has been trading sideways so far this year, more BTC has become illiquid. There has been an....
Since May 2021, the supply of illiquid bitcoin has grown by almost 371,000 BTC.
The decline in the price of bitcoin following the rally has unearthed some underlying weaknesses that were not easily seen before. The run-up and eventual rundown from $25,000 have shown that retail investors are not as moved by the market as expected. Even now, transaction volumes for retail investors remain muted, indicating that the burnout from the rally was actually a result of low bullish sentiment. Bitcoin Retail Volume Remains Low In a recent report, Glassnode points to the low retail volume as an indicator of the weakness of the market. Usually, retail investors react to long....
Data shows Bitcoin supply has been relatively illiquid recently as long-term holders haven’t started realizing profits much. Bitcoin Supply Last Moved Within 30 Days Has Been Relatively Low As per the latest weekly report from Arcane Research, despite a rise in BTC’s price recently, the supply moved within the last 30 days hasn’t risen much. The percentage of Bitcoin supply last moved in the past 30 days is an important indicator that tells us about the liquidity of the market. Usually, when coins start aging more, they become less likely to be moved. Because of this....