Bitcoin Eyes $150,000 As Binance Illiquid Supply Hits Record Highs
Fresh data from Binance suggests that Bitcoin’s (BTC) illiquid supply has reached historically high levels, a development that could set the stage for BTC to eye the $150,000 milestone by the end of 2025. Bitcoin Illiquid Supply On Binance Hit Record Highs According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin’s illiquid supply recently touched new highs on the Binance exchange. In contrast, BTC’s liquid supply has seen a significant decline. Related Reading: Bitcoin Sentiment On Binance Turns Bullish – But Is The Market Setting A Trap? The CryptoQuant contributor....
Related News
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....
Since May 2021, the supply of illiquid bitcoin has grown by almost 371,000 BTC.
The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to the BTC supply that is unlikely to hit the open, given the long-term holding of the investors who own these coins. Bitcoin’s Illiquid Supply Hits New High Glassnode data shows that Bitcoin’s illiquid supply has reached a new high of 14.3 million BTC, marking over 72% of the flagship’s circulating supply. This supply is held by long-term holders (LTHs) who haven’t moved their coins in over seven years, highlighting a strong conviction in the flagship crypto. Related....
Following a rejection at $4,946 on August 24, Ethereum (ETH) is now trading in the low $4,000 level. However, some analysts are still hopeful that ETH is likely to surge beyond $5,000 in the coming weeks, thanks to its rising illiquid supply and positive exchange-traded fund (ETF) momentum. Ethereum To Hit $5,500 In September? According to a CryptoQuant Quicktake post by contributor Arab Chain, Ethereum’s latest upswing in August which pushed the digital asset from a range of $3,700 – $4,000 to its latest all-time high (ATH) of $4,946, was largely buoyed by broader market rally and....
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.....