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