Bitcoin illiquid at 147K/month, indicates steady accumulation.

Bitcoin (BTC) is being transferred into wallets controlled by entities with little-to-no spending history, indicating that long-term investors are accumulating the cryptocurrency. The illiquid supply change metric, which measures the number of coins held by illiquid wallets on a specific date compared with the same day the previous month, rose to 147,351.58 BTC ($3.9 billion) on Monday, the most since December 19. The total held by illiquid entities has jumped to a record high of 15,207,843 BTC, with the tally increasing by 215,000 BTC in the past four weeks alone. Despite economic uncertainty and regulatory risks, investors remain confident in bitcoin’s price prospects. The rate of flow into illiquid wallets suggests a steady accumulation of bitcoin is taking place, supporting the case for a potential price rise. Technical charts suggest scope for a bull market revival as long as crucial support at $25,200 is held intact. At press time, bitcoin was changing hands at about $26,750.