Bitcoin Illiquid Supply Climbs to Over 14M BTC, Reflects Strong HODL Trend
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币界网报道：Bitcoin's illiquid supply has surged to 14.37 million BTC, up from 13.9 million at the start of 2025, representing over 72% of the total mined supply, according to Glassnode data. This illiquidity, driven by long-term investors and cold wallet holders, effectively reduces market availability as these coins are held rather than traded. The trend reflects growing investor confidence and could lead to supply-side shocks, historically linked to bullish price movements. The rising illiquidity reinforces Bitcoin's store-of-value narrative and may create upward price pressure amid increasing demand and declining miner issuance, highlighting liquidity analysis as a key market sentiment indicator.
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