Bitcoin’s illiquid supply has hit an all-time high as investors continue to move their bitcoins from major cryptocurrency exchanges to offline wallets, according to data from market analyst Glassnode.
According to Whale Alert data, which tracks the movements of large Bitcoin investors, a whopping 15,000 Bitcoins were sent to anonymous offline wallets.
In Glassnode’s chart shared by BTC_Archive, a Bitcoin analyst active on Twitter, Bitcoin’s illiquidity supply is rapidly increasing while the liquidity supply is decreasing day by day.
The cryptocurrency market sees an increase in the illiquid supply of Bitcoin as a phenomenon that occurs as investors expect a continuous increase in the price of Bitcoin.
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$38 billion in Bitcoin exchange outflow over 20 months… Continued accumulation of long-term holders