Bitcoin Is Experiencing Liquidity Crisis: How Is It Affected?


Bitcoin price has made a big jump in the last 7 days and has climbed to $ 24K. While investors were waiting for the continuation of the bull rally, an expert explained that Bitcoin was experiencing a supply and liquidity crisis. However, this was interpreted by the expert as “bullish” for BTC.

Bitcoin, whose price has risen to $ 24,000, has seen some decline in the last 24 hours while running from record to record, and this has raised questions for some investors. Glassnode CTO Rafael Schultze-Kraft made some statements showing that there is quite a lot of bullish data for Bitcoin. Schultze-Kraft first stated that Bitcoin was in a supply and liquidity crisis, and then said that it was quite bullish for BTC.

Showing the Bitcoin rates on the exchanges, the CTO then released the data to support its view. Analyzing under 7 headings, CTO first showed that the number of accumulation addresses that only buy Bitcoin and do not spend at all is at the level of 2.7 million BTC.

“Real HODLers hold 14.5% of circulating supply.”

Referring to the Bitcoin supply, Schultze-Kraft said, “Do you really believe there are 21 million BTC?” he said and said that about 3 million Bitcoins were lost. This means a 16% decrease in circulating supply.

Grayscale got more than BTC mined

Glassnode CTO, referring to the BTC demand of corporate companies, included the Bitcoin purchases of companies such as Grayscale, Microstrategy, Ruffer. Emphasizing that different institutional investments can be seen with these companies, CTO also made a short comment about Grayscale. Stating that approximately 210 thousand BTC has been added to the Grayscale Bitcoin fund in the last 6 months, Schultze-Kraft said that the number of BTC scraped by the miners during the same period was approximately 185 thousand.

“Yes, Grayscale gets more than the Bitcoin mined. Now we can talk about the supply crisis! ”

Schultze-Kraft stated that the BTC supply in the stock exchanges has dropped significantly since January and that BTCs have been transferred to places such as long-term storage wallets. In a data shared by the CTO, who went into a liquidity crisis after his statements about supply, it was seen that 14.4 million Bitcoins were held by illiquid assets. CTO shared a chart showing that only 12% of the circulating Bitcoin supply is liquid, within the framework of this amount, which is 78% of the current supply.

Finally, looking at the miner data, Schultze-Kraft stated that the amount of Bitcoin that never left the miner’s addresses has been on the rise since the last halving, and stated that the current BTC balance in miners is 1.7 million. The CTO said that all this data is bullish and believes the consequences of this supply and liquidity crisis will be significantly reflected in the Bitcoin price in the coming months.


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