Alright, crypto fam, hold onto your hats because things are getting seriously interesting! We’ve just hit a massive milestone – Bitcoin’s non-circulating supply has exploded to an all-time high of 14 million BTC! That’s right, more and more Bitcoin is locking itself away, refusing to be tempted by short-term gains.
Photo source:insights.glassnode.com
According to Glassnode, this isn’t just a little bump; it’s the biggest 30-day increase since December 2022, clocking in at a cool 180,000 BTC. What does this mean? It means conviction, people. It means people believe in Bitcoin’s long-term trajectory.
But it doesn’t stop there. The big players – the whales and sharks – are joining the party, scooping up 83,105 BTC in the last 30 days alone. They’re stacking those sats, and they’re not playing around.
Let’s break down what ‘non-circulating supply’ actually means. It refers to Bitcoin held by entities that show a very low tendency to spend their holdings – their outflow is minimal compared to their inflow. These aren’t the day traders, folks. These are the long-term believers, the HODLers, the ones who understand the future of finance.
Essentially, this data screams one thing: fewer Bitcoins are available for sale, which could fuel a massive price surge as demand continues to grow. Price action has already bounced back into the six-figure range, and frankly, this is just the beginning.
Here’s a little more to chew on:
Non-circulating supply is a crucial metric for assessing market sentiment. It indicates that more Bitcoin is being held for the long haul, reducing sell-side pressure.
The “whale” and “shark” entities are typically defined by the amount of Bitcoin they hold. Whales generally have thousands of BTC, while sharks hold hundreds.
An increase in non-circulating supply often correlates with bullish market conditions as decreased availability increases scarcity.
