Roughly 150K Bitcoin became illiquid in past 30 days

Similar levels of coins becoming illiquid after the Luna collapse.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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