Bitfinex is a leading crypto exchange that released the latest Bitfinex Alpha, a publication which offers data from on-chain and insight into the volatile crypto market. This week’s document found that the amount of unmoved bitcoin has reached its highest point.
The report also highlights an interesting development in the trends of liquidity. Bitcoin liquidity is on the decline, while Tether USDT liquidity has increased.
Bitcoin’s Unmoved Supply Hits ATH
Bitfinex Alpha attributes a surge in bitcoins that have not been moved to the increasing interest of institutional investors.
Citing data from Ark Invest, an investment firm headed by the renowned Cathie Wood, the paper stated that about 70% of BTC’s circulating supply has been unmoved for at least a year, the highest ever recorded.
The increasing involvement of these big players indicates strong bullish sentiment and unwavering confidence in bitcoin’s long-term prospects.
According to the report the BTC (Bitcoin) balance, which is an indicator of institutional activity and can be found on OTC desks, has reached its highest level in a year. By the end of the third-quarter, the balance had risen by 60%. This growth suggests…
