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Crypto Whales Recover Dumped Bitcoin, Reaching New All-Time High of BTC Illiquid Supply

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Sat, 07/31/2021 - 09:30
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Yuri Molchan
Amount of Bitcoin held by long-term cryptocurrency whales has reached a new peak after a 3.5-month decline
Crypto Whales Recover Dumped Bitcoin, Reaching New All-Time High of BTC Illiquid Supply
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Data provided by the Glassnode analytics agency shows that the Bitcoin illiquid supply has recovered and soared to a new all-time high at over 14,400 BTC.

The chart was posted by the CIO of the Moskoski Capital. It shows that the strongest BTC holders have recovered the Bitcoin sold during the recent dump period that had lasted for around 108 days and put it back to their cold storage vaults for long-term holding.

Related
Bitcoin Trades at $41,500 After Reaching $42,200 Ten Hours Earlier

Bitcoin whales have retraced the dumped BTC and now their holdings have surged to a new historic peak, according to the chart.

Earlier, U.Today reported that crypto whales had been purchasing the flagship cryptocurrency on the dip while it was trading first in the $32,000 area and then rose to the $38,000 zone.

Related
Number of Large Daily Bitcoin Transfers Soars as Whales Keep Buying the Dip

On Friday, Bitcoin surpassed the $42,000 level and at the time of writing the largest digital currency is changing hands at $41,780, according to the data from CoinMarketCap.

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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. ‘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.