On-chain data shows the Bitcoin HODLers have continued to accumulate recently as they expand their holdings at a rate of 194,500 BTC per month.
Bitcoin’s Illiquid Supply Has Continued To Go Up Recently
According to data from the on-chain analytics firm Glassnode, the BTC illiquid supply is currently growing at rates near the cycle high. The “illiquid supply” here refers to the combined wallet amounts held by Bitcoin entities that have little to no history of spending their coins.
An “entity” here is a single address or a collection of addresses that Glassnode has determined through its analysis to belong to the same investor. The entities that have participated in a low amount of selling would be the high-conviction BTC investors, popularly called the “HODLers.”
The supply of these HODLers may also be tracked using the “long-term holder (LTH) supply” metric, where LTHs are investors who purchased their coins more than 155 days ago.
However, the LTH supply indicator ca
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