New dynamics in the Bitcoin market! Bitwise Europe Research Director André Dragosch shared an interesting piece of news on X: The illiquid supply of Bitcoin has reached an all-time high, while balances on exchanges have dropped to a new low in years. 📉

Specifically, nearly 75% of the Bitcoin supply is considered 'illiquid', meaning that these Bitcoins are held for the long term and are not easily circulated in the market. At the same time, the supply of Bitcoin on exchanges accounts for less than 14%. This indicates that the scarcity of Bitcoin supply is continuously intensifying, which may impact future market dynamics. 🔍