Share this article
Bitcoin Illiquid Supply Climbs to Over 14M BTC, Reflects Strong HODL Trend
Over 72 percent of circulating BTC is now illiquid, suggesting reduced sell-side pressure and potential bullish momentum.
Updated Jun 26, 2025, 1:33 p.m. Published Jun 26, 2025, 10:06 a.m.
What to know:
- Illiquid supply has increased by 470,000 BTC year to date, rising from 13.9 million to 14.37 million.
- With only 5.4 million BTC considered liquid, investor behavior indicates growing long-term confidence in Bitcoin as a store of value.
Bitcoin’s illiquid supply has surged to 14.37 million BTC, jumping from 13.9 million BTC at the start of 2025, according to Glassnode data.
With bitcoin’s current circulating supply standing at approximately 19.8 million, this means over 72 percent of all mined BTC is now classified as illiquid.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Illiquid supply refers to the portion of BTC held by entities with minimal spending behavior, such as long-term investors and cold wallet holders. These coins are effectively taken out of the market, reducing the amount available for trading.
As more investors opt to store bitcoin rather than trade it, the liquid portion of the supply shrinks, tightening market availability.
This trend is significant because a growing illiquid supply often reflects increasing investor confidence and long-term conviction. It also creates the potential for a supply-side shock, where rising demand meets limited available supply, historically associated with bullish price movements.
The continued rise in bitcoin illiquidity supports the narrative of bitcoin as a store of value. If this trajectory holds, it could place upward pressure on price, particularly in the context of heightened market interest and diminishing miner issuance.
This underscores liquidity analysis as a key indicator for market sentiment and future price action.
Plus pour vous
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ce qu'il:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin's breakout lifts crypto equities and miners in pre-market trading
Bitcoin pushes above $92,000 as stocks tied to crypto, AI mining, and metals rally in pre market trading.
What to know:
- Bitcoin breaks above $92,000, briefly touching $93,000.
- Strategy (MSTR) rises 3.5% to $163 ahead of a potential bitcoin purchase announcement.
- AI-linked miners CIFR, IREN, and HIVE extend strong gains.
- Gold, silver, and the DXY index continue to strengthen following weekend Venezuela US developments.
Top Stories
