Recent research by on-chain analytics provider Glassnode has revealed that Bitcoin’s liquid supply is continuing to decrease as investors progressively acquire and hodl the asset for the long term.
The findings indicate that there is currently around 78% of issued Bitcoin are either lost or being hodled. It added that this leaves less than 4 million BTC to be shared amongst future market entrants including large institutional investors such as PayPal, Square, S&P500 companies, ETFs, and the like.
“With float in the network drying up faster than ever, signs are promising for continued BTC price increases into the future.”
$BTC is sitting above $43k after climbing consistently over the past week, reaching a new ATH of $44,127 today.
On-chain metrics continue to signal favorable conditions as the #Bitcoin supply remains restricted.
Read more in The Week On-Chain