News View Non-AMP

Bitcoin Supply Tightens as Long-Term Holders Refuse to Sell: Glassnode

Published by
Zameer Attar

The available supply of bitcoin is increasingly constrained as long-term holders refuse to part with their coins, Glassnode data indicates. This historically tight circulation has analysts observing impressive accumulation rates for the leading cryptocurrency.

According to a Glassnode report, the percentage of bitcoin’s circulating supply held untouched for over one year sits around all-time highs of 68%. The metric tracking coins held for more than five years are also elevated to nearly 30% of the total supply.

The unwillingness of veteran Bitcoin investors to sell their holdings points to a bullish conviction that higher prices lie ahead. Glassnode described the divergence between long-term holder supply and short-term holder supply, now at multi-year lows, as “powerful.”

Bitcoin’s illiquid supply, representing coins held in wallets with minimal spending activity, also remains at a record 15.4 million BTC and is increasing by over 71,000 BTC monthly. This rise has coincided with investors withdrawing digital assets from exchanges into custody solutions.

More than 1.7 million Bitcoin left exchanges since 2021

Since May 2021, more than 1.7 million Bitcoin have left exchanges for self-hosted wallets, reflecting a preference for personally securing holdings. The tight holder base has left circulating bitcoin historically scarce.

Glassnode noted the recent rally above $30,000 may mark a shift in market character, as short-term holder spending patterns changed after surpassing that key level. Many analysts view $30,000 as an inflection point where a broader bullish conviction could take hold.

With supply dynamics extraordinarily tight, bitcoin may have to reach significantly higher prices to dislodge sizable volumes from long-term investor coffers. The holders that have accumulated BTC throughout its history appear intent on riding out any volatility en route to much loftier prices. Their unwillingness to sell is constricting supply amid growing global demand.

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Bitcoin’s (BTC) Price Prediction and Why Ruvi AI (RUVI) Is The Most Promising Project in 2025?

Bitcoin is once again captivating the world of finance. The cryptocurrency recently surged to $95,000,…

April 28, 2025

Start Exploring Pigdom With A Surprise From The King Pig-The $KOPS ICO Is Fast Approaching

The memecoin market is always chaotic and holds lots of hidden surprises. Yet, many traders…

April 28, 2025

Bitcoin Price Prediction-Here’s What’s Incoming for the BTC Price Rally This Week

The crypto markets are displaying significant strength since the early trading hours, with the prices…

April 28, 2025

Supra Unveils AutoFi and SupraNova to Transform Cross-Chain DeFi

According to Supra, the future of DeFi is omnichain and fully interoperable, because therein lie…

April 28, 2025

This $0.025 Token Is on Track for a 3400% Run, According to Market Analysts

In a crypto market where many tokens are competing for visibility, only a few stand…

April 28, 2025

Here’s When Altcoins Will Rally

Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above…

April 28, 2025