More than 100,000 BTC pulled into self-custody over past 12 months

2023-2-9 17:30

More than 100,000 Bitcoin (BTC) were transferred to self-custody storages in the last 365 days, according to Glassnode data analyzed by CryptoSlate.

The chart below represents the liquid and illiquid BTC supply with the red and green zones, respectively.

BTC Illiquid supply since 2020 (Source: Glassnode)

BTC has been moving to self-custody storages since the beginning of 2020, except for brief periods where an opposite flow was recorded. The most significant liquidation movement was recorded in May 2021, represented by the tallest red zone in the chart.

However, only movement towards self-custody storage has been recorded since November 2022.

January

The amount of BTC retreating into self-custody spiked in January, reaching an all-time high since the beginning of 2020.

The chart below represents the amount of illiquid BTC with the orange line since the beginning of January.

BTC Illiquid supply in January (Source: Glassnode)

The illiquid BTC supply was around 15 million on Jan. 1. Over 70,000 BTC were transferred to self-custody wallets throughout the month, considerably pushing the illiquid supply level up.

The movement towards self-custody continued into February and the illiquid supply amount currently sits at 15.1 million.

The post More than 100,000 BTC pulled into self-custody over past 12 months appeared first on CryptoSlate.

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