Bitcoin Illiquid Supply Climbs to Record 14.3M Despite Price Pullback

Bitcoin’s illiquid supply—the share of coins held by entities with little to no spending history—has reached a fresh all-time high of 14.3 million BTC, Glassnode data shows.

That figure represents roughly 72% of the 19.9 million BTC in circulation, with much of it held by long-term holders and investors using cold storage. The steady rise signals ongoing accumulation, even as prices remain volatile.

Bitcoin touched a record $124,000 in mid-August before sliding nearly 15% in recent weeks. Yet illiquid supply has continued to expand, with an additional 20,000 BTC shifting into illiquid wallets over the past 30 days.

Analysts note that this trend points to tightening supply conditions, which could provide a foundation for the next rally once market sentiment improves. For now, the data underscores growing conviction in bitcoin’s role as a long-term store of value, regardless of short-term price swings.