Highly Liquid Supply
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Highly Liquid Supply estimates the BTC balance attributed to entities with a high tendency to spend received coins. Addresses are grouped into entities, and liquidity is assessed from spending relative to receipts; the modeled balance is shown in BTC.
How to read it
A larger balance places more supply with entities that historically recirculate coins readily, while a smaller balance places less supply in that category. The series reached about 4.41 million BTC on June 14, 2022, showing that highly mobile supply can be elevated during market stress as well as active trading periods.
High spending propensity is not the same as deep order books or confirmed selling. Custody services can represent many users, and entity grouping or liquidity reclassification can change the allocation without an equivalent market trade. Compare with illiquid and mid-liquidity balances rather than treating the total as exchange reserves.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Supply
- Type
- Single value
- Unit
- BTC
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
- Data points
- 6,507
FAQ
Does highly liquid supply mean BTC listed for sale?
No. It describes the historical spending behavior of attributed entities. Coins may be used for settlement, collateral or custody operations without being offered on an exchange.
How does highly liquid supply differ from mid-liquidity supply?
Both concern entity spending behavior, but the highly liquid group has a greater tendency to recirculate receipts. The mid-liquidity series covers the intermediate allocation and should not be confused with the highly liquid balance.
Is this a count of liquid entities or their BTC holdings?
It is a modeled BTC balance, not an entity count. Large entities therefore contribute more to the supply measure than small ones.
