The number of Bitcoins that are no longer considered liklt from trading platforms has been growing faster than ever for three years. This number is even higher than in July 2017 in its current form.
Glassnode; It calculates how much of the total BTC supply is liquid using the individual and corporate Bitcoin addresses that have already been determined. The number of Bitcoins that are not used for buying / selling and presumed illiquid, decrease in bear markets tends to increase in bull markets.
Continues to decline despite volatility
According to Glassnode’s post dated March 25, the amount of liquid Bitcoins has been decreasing steadily since the beginning of the year. The downtrend continues despite the 10.16% drop in bitcoin price this week.
While the amount of Bitcoin decreasing on the liquid side is measured by hundreds of thousands, this number has surpassed the current table seen in 2017. Bitcoin broke its price record to date after the summer of 2017.
Miners started holding Bitcoin
The selling pressure seen in the mining industry continues to ease. The miners, who sold large amounts of Bitcoin at the end of January, stopped these transactions at the end of February.
According to measurements by Glassnode, miners are holding more Bitcoin than they have sold for the first time since then.