Data: 270,000 BTC flowed into the hands of giant whales in the past month

Glassnode tweeted on January 21 2021 shows that Bitcoin is seeing the largest depletion of liquidity since years. Not only are funds being withdrawn from exchanges, but coins are continuously moving to strong hands. In the past 30 days, around 270,000 BTC moved to entities considered HODLers.

A record number of Bitcoin addresses holding more than 1,000 BTC. 164 new addresses with more than 1,000 BTC were added in 2021 alone and are now worth $6 billion.

The number of addresses holding at least 1,000 bitcoins has increased by 7.2 percent since last December. And throughout 2020, the number of cryptocurrency whales increased by 6.7 percent.

BitInfoCharts data shows that there are now 2,318 cryptocurrency wallets holding more than 1,000 bitcoins. Most of the top 100 addresses are dormant, meaning that the bitcoins in these addresses have not moved in many years.

The number of bitcoins currently held on exchanges continues to decline. Showing that institutions/high net worth individuals are continuing to remove bitcoins from exchanges to a compliant custodian.

On December 30, 2021, Glassnode published an analysis article stating that 78% of the bitcoin supply is illiquid and that only 4.2 million bitcoins are currently in constant circulation and available for trading due to the large number of bitcoins being hoarded by investors.

Bitcoin liquidity is defined as the average ratio of received and used BTC between various entities. the Glassnode analyst further noted that "with a total of another 1 million bitcoins becoming illiquid in 2020, the rise in liquidity suggests that the current bull market is (partly) driven by this emerging bitcoin liquidity crisis. "

(images are all from Glassnode)