Express

Institutional Investors Holding Bitcoin Is Driving The Current Bull Run, Glassnode Report States

Emily Mason

Summary: 78% of Bitcoin is illiquid, which is driving the current bull run, according to a recent report from Glassnode. Only 4.2 million Bitcoin out of 21 million (22%) are currently available to buy and sell. Glassnode analysts said this suggests that this data reflects bullish investor sentiment as mass amounts of BTC are being hoarded, ...

78% of Bitcoin is illiquid, which is driving the current bull run, according to a recent report from Glassnode.

Only 4.2 million Bitcoin out of 21 million (22%) are currently available to buy and sell. Glassnode analysts said this suggests that this data reflects bullish investor sentiment as mass amounts of BTC are being hoarded, reducing sell pressure. This year alone, “more than 1 million BTC has become illiquid,” according to the report.

The report adds that there is a shortage of Bitcoin because it’s being purchased in large quanities by big investors. This trend is making the currency more expensive.

By Emily Mason

Last Update:

Tags: Bitcoin,BTC,Glassnode
Link: Institutional Investors Holding Bitcoin Is Driving The Current Bull Run, Glassnode Report States [Copy]

Last: BitGo Agrees To Settlement Pact With US Treasury Over Sanctions Violations

Next: XRP Will Be Delisted From Binance US On January 13

BitFuFu’s VP on Mining Leadership, Corporate Crypto Treasuries, the Stablecoin Act, and... 3 days ago

BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 4 days ago

Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 14 days ago

When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 16 days ago

Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 17 days ago