Definition ∞ Bitcoin Illiquid Supply refers to Bitcoin held in addresses that show no history of spending. These coins are typically held by long-term investors who demonstrate a commitment to retaining their assets rather than trading them. This metric indicates a strong holder conviction and a reduced immediate selling propensity in the market. A high illiquid supply often signals underlying asset strength and potential for future price appreciation.
Context ∞ The state of Bitcoin Illiquid Supply is a key indicator for market analysts assessing long-term market trends. Significant increases in this metric suggest accumulating behavior and reduced circulating supply, often preceding bullish market phases. Future observation will focus on whether institutional adoption further solidifies this holding pattern, impacting Bitcoin’s overall market structure and volatility.
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