Bitcoin's Illiquid Supply Hits 14 Million BTC, Whales Accumulate 83,105 BTC in 30 Days

Bitcoin’s journey has reached a significant milestone as its illiquid supply has surged to a record high of 14 million BTC. This increase reflects a notable shift in investor sentiment, with major investors showing a strong inclination towards accumulation rather than trading. The trend indicates that investors are increasingly holding onto their Bitcoin, a characteristic that has become a hallmark of the current bull market.

This unprecedented surge in illiquid supply marks the largest 30-day increase during the ongoing bull market. According to Glassnode, an analytics platform, this trend underscores the bullish outlook of major investors, often referred to as "whales." These entities are not only holding onto their Bitcoin but are actively accumulating more, especially above the $100,000 mark. This behavior suggests a long-term bullish outlook, as whales anticipate future price appreciation and are hoarding coins accordingly.

The illiquid supply of Bitcoin, which now stands at 14 million BTC, is the highest volume recorded to date. This figure represents an increase of approximately 180,000 BTC over the past month, the largest jump since December 2022’s post-bear market recovery. This shift towards a more illiquid supply structure highlights a major trend in the market, where investors are opting to hold rather than trade their Bitcoin holdings.

The trend of whale accumulation signals strong market confidence. As the bull cycle continues, Bitcoin’s price movement and investment trends have shown increasing participation from institutional and significant investors. These entities, including corporate treasuries, are becoming key players in the Bitcoin market. The advent of spot Bitcoin exchange-traded funds (ETFs) has further cemented Bitcoin as a mainstream investment, attracting more institutional interest.

Recent onchain data reveals that Bitcoin whales have continued to accumulate Bitcoin during recent price rebounds. This behavior contrasts sharply with retail investor behavior, which has been marked by a sense of panic. According to research firm Santiment, the whale and shark tiers—those holding between 10 BTC and 10,000 BTC—have collectively accumulated an additional 83,105 BTC over the last 30 days. This indicates a diverging sentiment within different layers of the investor community, with institutional investors and wealthier players showing confidence in Bitcoin’s trajectory, while smaller retail holders appear to be faltering.

As the market continues to evolve, experts are analyzing the implications of these trends on Bitcoin’s future. The record illiquid supply combined with significant whale accumulation patterns indicates robust confidence among larger investors in Bitcoin’s potential recovery and future growth trajectory. This sentiment is echoed in industry discussions about the implications of regulatory developments and potential adoption increases driven by institutional participation. Investors remain vigilant, monitoring market movements closely as they strategize their next moves.

In summary, Bitcoin’s illiquid supply reaching an unprecedented 14 million BTC is a clear signal of changing dynamics in the cryptocurrency market. The ongoing accumulation by whales highlights a bullish sentiment, contrasting sharply with the apprehension seen among smaller retail investors. As Bitcoin charts its course, stakeholders must remain aware of these evolving trends to navigate the complex terrain ahead.