Supply by Entity Liquidity
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- ValueValue
- ShareShare
About this metric
What it measures
Supply by Entity Liquidity divides BTC holdings into Illiquid, Liquid and Highly liquid groups according to entities' historical tendency to send received coins onward. Addresses attributed to one controller are grouped as an entity; each series totals the BTC held in its liquidity category.
How to read it
Growth in Illiquid supply means a larger stock is associated with entities that tend to retain received coins. Growth in Liquid or Highly liquid supply puts more holdings with entities that circulate coins more readily. Illiquid supply reached about 13.76 million BTC on November 28, 2023; Highly liquid supply had its recorded high of about 4.41 million BTC on June 14, 2022.
These groups describe observed spending behavior, not exchange order-book depth or coins locked by the protocol. An entity can change category and shift its whole balance between groups, while clustering and custody arrangements affect the classification. Illiquid BTC can move at any time, so a large balance is not a guarantee of restricted selling supply.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Supply
- Type
- Breakdown
- Unit
- BTC
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
FAQ
What makes Bitcoin supply illiquid?
Here, illiquid refers to BTC held by entities that historically retain a large share of coins received rather than spending them onward. It is a behavioral classification, not a contractual lock or proof that the coins cannot move.
Is Highly liquid supply the same as exchange reserves?
No. Exchange reserves depend on addresses being labeled as exchanges. Highly liquid supply groups entities by spending behavior, so the categories can overlap without being identical.
Can illiquid supply fall without all those BTC being transferred?
Yes. If an entity's behavior changes enough to move it into another category, its holdings can be reassigned. Changes in the group therefore combine transfers, issuance and classification effects rather than measuring a pure flow.
