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Bitcoin's Illiquid Supply Hits New ATH as Users Withdraw BTC from Exchanges

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Wed, 11/03/2021 - 12:52
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Yuri Molchan
Recent analytics data shows that investors have been actively withdrawing their Bitcoin from trading venues, pushing the BTC illiquid supply to a new all-time high
Bitcoin's Illiquid Supply Hits New ATH as Users Withdraw BTC from Exchanges
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Data shared by popular analytics company Glassnode shows that the illiquid supply of the flagship cryptocurrency has hit a new all-time high, while investors are taking their BTC off multiple centralized crypto exchanges and putting it into cold storage.

By the way, among those transactions, a staggering 15,000 Bitcoins were sent between anonymous wallets, according to Whale Alert.

Bitcoin's illiquid supply spikes to a new peak

According to a Glassnode chart shared by prominent Bitcoin-related Twitter account @BTC_Archive, the illiquid Bitcoin supply that has been rising at a fast pace has hit an all-time high, and the lack of a liquid BTC supply is getting tighter with each passing day.

In another tweet, the @BTC_Archive user posted one more Glassnode chart, showing that users have been withdrawing BTC from multiple crypto exchanges. The chart shows the Exchange Net Position Change index, and it has been going mostly negative.

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Whales shovel $950 billion in Bitcoin

Major crypto tracker Whale Alert has reported that 22 hours ago, a whopping 15,000 Bitcoins (equal to $949,670,920) were sent from one anonymous wallet (3GNUK7wBUjDQYv8RnBa9qJ5u9igLdLbPdh) to another (bc1qceljac44mjpyv4ssynf6ysz9f8q9pz3p46czje), as BTC whales have been shifting crypto.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. β€˜Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.