According to the latest reports, it seems that Bitcoin’s illiquid supply has just broken a new ATH. Check out the latest details about this below.
BTC makes new ATH in illiquid supply
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $25,078.
It has been just revealed the fact that a popular crypto analyst says one bullish sign for Bitcoin (BTC) is the king crypto’s soaring illiquid supply in the face of regulatory headwinds.
In a new video update, InvestAnswers made sure to explain the fact that Bitcoin’s illiquid supply has hit an all-time high at 72%, which he considers a sign of confidence in BTC’s market.
As the online publication the Daily Hodl notes, Bitcoin’s illiquid supply is a term used to refer to the amount of BTC held by entities that historically always hold onto at least 75% of their coins.
“Bitcoin illiquid supply hits an all-time high. And this is kind of historical because, one, it’s never been this high, of course, and that means 72% of Bitcoin is not for sale. The illiquid supply are people who tend not to sell, and especially where we are in this cycle. These are veterans, they know what they’re doing.”
New BTC warning is out
An analyst who nailed the 2018 bear market bottom for Bitcoin (BTC) believes that the crypto king’s correction is not yet over.
Pseudonymous crypto strategist Bluntz said recently, according to the latest reports coming from the online publication the Daily Hodl, that he expects Bitcoin to go on a quick bounce before resuming its downtrend.
He said that Bitcoin’s bearish chart suggests that more bad news stories could be in store for the crypto space.
“Now that price action has unfolded a bit longer, I think sub-$24,000 is probably likely. It definitely feels like some kind of sideways-running triangle forming here on the four-hour (chart) with the underlying trend currently down.”