Bitcoin Illiquid Supply Hits a Record 14.3 Million BTC As 72% of Total Supply Is Locked Up By Lon...

Bitcoin illiquid hits a record 14.3 million BTC.

72% of the circulating BTC supply is locked up by long-term holders

$10 billion Bitcoin shorts to be liquidated at $117,000.

The price of Bitcoin (BTC) continues to trade in the $110,00 price range, giving many Bitcoin enthusiasts a golden opportunity to accumulate more of the pioneer crypto asset, before it can hit higher ATH prices. Analysts have noticed that the Bitcoin illiquid supply hits a record 14.3 million BTC as 72% of the total supply is locked up by long-term holders. At the same time, they notice that $10 billion of Bitcoin shorts could be liquidated at $117,000.

Bitcoin Illiquid Supply Hits a Record $14.3M BTC

With Bitcoin (BTC) having offered several chances for whales and institutions to accumulate, the BTC illiquid supply has grown by a significant margin. To highlight, the pioneer crypto asset is seen as digital gold, an asset that’s expected to replace gold in the near future, as the greatest investment option. In detail, BTC accumulation has hit an unprecedented peak this bull cycle thanks to the success of Bitcoin ETFs

Once Bitcoin ETF demand grew, institutions like BlackRock began to aggressively and swiftly increase their BTC buying strategy. With this need to accumulate more BTC, expectations for a BTC supply shock to arrive this bull cycle lit a greater fuse for BTC accumulation from other whales and mid and small-range BTC investors. With almost 20 million out of the 21 million total BTC supply already mined, the race to accumulate more BTC grows stronger

As we can see from the post above, the Bitcoin illiquid supply hits a record 14.3 million BTC. Analysts notice how up to 72% of the total supply is locked up by long-term holders, meaning those accumulators who buy more BTC than they sell or spend have increased significantly, leading to an unprecedentedly high Bitcoin (BTC) supply. Responses to the post show expectations for a fall in supply and a rise in BTC price soon

$10 Billion Bitcoin Shorts to be Liquidated at $117,000

Meanwhile, another interesting observation from crypto analysts is that $10 billion in Bitcoin shorts is set to be liquidated if BTC were to reclaim the $117,000 price range again. One response adds that 10 billion in shorts sitting at $117,000 is basically a powder keg waiting for a spark. Additionally, it states that if BTC grinds into that level, it's not just a breakout, it's a full-blown detonation

Shorts think they're safe because prices have been slow, but one squeeze and it's lights out, the statement concludes. The message ends by saying that the market loves max pain, and right now that's pointing straight up. Thus, sentiments are high for the price of BTC to recover allowing shorts to take losses like longs have been taking losses the past few weeks, bringing a balance to the market.