Bitcoin illiquid supply declines as 62,000 BTC moves out of long-term holder wallets: Glassnode
About $7 billion in Bitcoin moved from long-term holder wallets, decreasing illiquid supply and pressuring prices.Summary
Data from Glassnode indicates that approximately 62,000 BTC, valued around $7 billion, has moved out of long-term holder wallets since mid-October, marking the first significant decline in the second half of 2025. This outflow has decreased Bitcoin's illiquid supply, potentially hindering price rally momentum, especially as Bitcoin trades around $113,550 after recently peaking above $125,000 in early October.
Interestingly, while long-term holders are selling, whale wallets have been accumulating over the last 30 days and have largely held their positions since October 15th. The largest outflows have come from wallets holding between $10,000 and $1,000,000 worth of BTC, with momentum buyers exiting and insufficient dip-buyer demand absorbing the supply. This imbalance is currently pressuring prices until stronger spot demand returns.
Concurrently, the percentage of BTC supply in profit has dipped, currently sitting at about 82.3%. A Fidelity Digital Assets report estimates that if current trends continue, nearly 42% of the total supply (about 8.3 million BTC) will be considered illiquid by Q2 2032, suggesting long-term scarcity may become a focal point.
(Source：The Block)