Key Takeaways
Bitcoin’s Illiquid Supply reached 14.3 million BTC, 72% locked away. Meanwhile, easing miner outflows contrast with persistent selling pressure, leaving the market at a critical turning point.
Since late August, Bitcoin’s [BTC] Illiquid Supply has surged to an all-time high of 14.3 million BTC. It represents more than 72% of circulating coins, locked away from active trading.
This increase includes a fresh 20K BTC accumulation over the last 30 days, suggesting that long-term holders (LTHs) remain confident despite recent market corrections.
At press time, BTC traded at $111,160 after a 0.5% daily gain.
That tightening liquidity shifted focus toward whether this heavy stacking could set up Bitcoin’s next breakout.
Are miners signaling reduced selling pressure?
At press time, the Miners’ Position Index (MPI) dropped to -1.41, marking a 3.1% drop in the past 24 hours.
For the uninformed, this ratio compares miner outflows to their one-year average, and a negative reading highlights restrained selling activity from mining pools.
Historically, reduced miner outflows have aligned with accumulation phases, lowering immediate supply pressure.
Having said that, the moderation did not eliminate downside risks, since miners can still adjust quickly during volatility.
Why are sellers still dominating Bitcoin’s Spot trades?
Despite stronger accumulation trends, Spot Taker CVD data showed persistent sell-side dominance across a 90-day window.
This indicator measures the difference between buy and sell market orders, with current readings highlighting more aggressive selling than buying.
It can be observed that while long-term holders continued to tighten supply, short-term participants remained inclined toward profit-taking or hedging.
That imbalance suggested price upside may face resistance without stronger Spot buy pressure.
What does rising network strength mean for BTC?
At press time, the NVT Golden Cross surged by 25.57%, moving to -0.60, hinting at improving network valuation compared to transaction volumes.
Historically, upward moves in this indicator preceded accumulation or recovery phases, often before bullish price trends.
By contrast, persistent sell pressure still weighed on near-term momentum. Still, the NVT trend reinforced the case for a more constructive long-term outlook.
Conclusion
Bitcoin’s record Illiquid Supply and declining miner outflows reflect growing conviction among LTHs. However, Spot markets continued to show sell-side dominance, tempering bullish enthusiasm.
With the NVT Golden Cross pointing toward stronger valuation conditions, the market faces a decisive crossroad.
If buying activity strengthens, Bitcoin’s tightened liquidity could amplify the next breakout, but without it, sellers may continue to suppress short-term upside.
