Greater than 100,000 Bitcoin (BTC) had been transferred to self-custody storages within the final three hundred and sixty five days, based on Glassnode knowledge analyzed by CryptoSlate.
The chart beneath represents the liquid and illiquid BTC provide with the pink and inexperienced zones, respectively.
BTC has been shifting to self-custody storages because the starting of 2020, aside from transient durations the place an reverse stream was recorded. Essentially the most important liquidation motion was recorded in Could 2021, represented by the tallest pink zone within the chart.
Nonetheless, solely motion in the direction of self-custody storage has been recorded since November 2022.
January
The quantity of BTC retreating into self-custody spiked in January, reaching an all-time excessive because the starting of 2020.
The chart beneath represents the quantity of illiquid BTC with the orange line because the starting of January.
The illiquid BTC provide was round 15 million on Jan. 1. Over 70,000 BTC had been transferred to self-custody wallets all through the month, significantly pushing the illiquid provide degree up.
The motion in the direction of self-custody continued into February and the illiquid provide quantity at the moment sits at 15.1 million.
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