Bitcoin’s illiquid supply has reached a record high of 14 million BTC. This marks the largest 30-day increase in illiquid supply during the current bull market – signaling strong confidence from long-term holders.
Biggest Spike Since Late 2022
Data from onchain analytics firm Glassnode shows that over 180,000 BTC were added to illiquid wallets in the past month. This is the biggest increase since December 2022, when Bitcoin was recovering from its bear market lows around $15,000.
Illiquid supply refers to BTC held by entities that rarely sell. These wallets typically receive Bitcoin and don’t send it out again, suggesting long-term holding behavior.
What Is Illiquid Supply?
Glassnode defines an entity as “illiquid” when its Bitcoin outflows are consistently low compared to its inflows. These wallets hoard coins, reducing the circulating supply and making BTC scarcer on the market.
This trend is now more visible than ever, with 14 million BTC – over two-thirds of the total supply – considered illiquid.
Whales Are Still Buying
While long-term holders are keeping their coins off the market, Bitcoin whales are also increasing their positions. According to Santiment, addresses holding between 10 and 10,000 BTC have accumulated over 83,000 BTC in the last 30 days.
Institutional interest is also growing. Corporate treasuries like MicroStrategy and U.S. spot Bitcoin ETFs are helping drive mainstream adoption of BTC as a long-term asset.
Retail vs. Institutional Sentiment
Retail investors are more cautious, but the data shows that large holders and institutions are steadily accumulating. This shift points to growing market maturity and long-term conviction from major players.
Why It Matters
- 14 million BTC are now illiquid – the highest ever recorded.
- 180,000 BTC added to illiquid wallets in 30 days, signaling strong accumulation.
- Whales added over 83,000 BTC, supporting the ongoing price uptrend.
- Supply is tightening, which could drive prices higher if demand continues.
As more Bitcoin gets locked away, the available supply shrinks. Combined with increasing demand from institutional investors, this could set the stage for the next major BTC price surge.
