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Roughly 150K Bitcoin became illiquid in past 30 days

CoinSurges
By CoinSurges

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Quick Take

  • ‘Illiquid supply’ refers to the amount of Bitcoin held by entities and is not readily available for trading or selling.
  • Glassnode analysis identified the highly liquid supply in a noticeable downward trend. “Currently residing near a cycle low of 2.94M BTC, a -620K BTC decrease since Jan 2022”.
  • Glassnode further said, “This suggests a significant contraction in the actively tradeable supply, resulting in both a decline in liquidity, as well as a constrained supply side.”
  • To take the opposite side of this, more and more Bitcoin is becoming illiquid.
  • 150k coins became illiquid in the past 30 days, similar to those seen after Luna’s collapse, marking a new year-to-date high. 
  • From a trend perspective, Bitcoin is becoming much less speculative and liquid.
Highly Liquid Supply: (Source: Glassnode)
Highly Liquid Supply: (Source: Glassnode)
Illiquid Supply Change: (Source: Glassnode)
Illiquid Supply Change: (Source: Glassnode)

The post Roughly 150K Bitcoin became illiquid in past 30 days appeared first on CryptoSlate.

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