$BTC Illiquid Supply Drops as 62K Coins Exit Wallets


Long-term $BTC holders have moved approximately 62,000 coins out of inactive wallets since mid-October, marking the first major #illiquid supply decline in the second half of 2025. The shift represents roughly $7 billion worth of #Bitcoin at current market prices, according to data from Glassnode.


The movement comes as Bitcoin trades around $113,550, down from its all-time high of over $125,000 reached in early October. When illiquid supply decreases, more coins become available for trading, which can make sustained price rallies more difficult without strong external #demand stepping in.


#Whale wallets have shown different behavior during this period, actually adding to their holdings over the past 30 days. Glassnode noted that since Oct. 15, these large holders have not significantly reduced their positions despite the broader market pullback.


The data reveals that wallets containing between $10,000 and $1,000,000 worth of $BTC have experienced the largest outflows. These mid-sized holders have been selling consistently since November of last year, suggesting a gradual exit by momentum-driven investors.


#Glassnode explained that momentum buyers have largely left the market, while dip buyers have failed to provide enough purchasing power to absorb the selling pressure. With first-time buyers remaining flat, this supply-demand imbalance continues to weigh on prices until stronger spot demand returns to the market.


Currently, about 82.3% of circulating $BTC remains in profit, up from a year-to-date low of 76% recorded in April. The declining price has coincided with this shift in profitable supply, though the majority of holders still sit above their acquisition cost.

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October 26, 2025 at 11:36 PM
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