{"id":90306,"date":"2025-10-27T12:17:18","date_gmt":"2025-10-27T10:17:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90306"},"modified":"2025-10-27T11:21:02","modified_gmt":"2025-10-27T09:21:02","slug":"glassnode-bitcoin-rally-hindered-by-holder-activity","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/glassnode-bitcoin-rally-hindered-by-holder-activity\/","title":{"rendered":"Glassnode: Bitcoin Rally Hindered by Holder Activity"},"content":{"rendered":"<p>Analysts at Glassnode have observed a reduction in Bitcoin&#8217;s illiquid supply. Since mid-October, long-term investors have withdrawn approximately 62,000 BTC from their wallets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Illiquid <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> supply has started to decline, with roughly 62,000 BTC moving out of long-term, inactive wallets since mid-October. When illiquid supply falls, more coins are available to trade, which can make it harder for price to trend without strong new demand. <a href=\"https:\/\/t.co\/lyh2R7EtUB\">pic.twitter.com\/lyh2R7EtUB<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1981980809155182894?ref_src=twsrc%5Etfw\">October 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts believe that the increase in market supply could impede the asset&#8217;s price rally in the absence of strong demand.<\/p>\n<p>Previously, illiquid supply was a fundamental pillar of the current market cycle, but the latest correction has somewhat altered the situation. Analysts noted that such pullbacks have historically weakened market momentum.<\/p>\n<p>They also recalled larger outflows in the past, such as 400,000 BTC in January 2024.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Illiquid supply has been a major tailwind this cycle, but the latest pullback breaks that trend. Similar declines have historically cooled momentum as supply returns to market, and we\u2019ve seen far bigger outflows before, like the 400K BTC in Jan \u201824. <a href=\"https:\/\/t.co\/StJCwmu1JX\">pic.twitter.com\/StJCwmu1JX<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1981980812078682207?ref_src=twsrc%5Etfw\">October 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Investor Group Activity<\/h2>\n<p>Over the past 30 days, whales have been accumulating assets, according to Glassnode.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Whale Activity <br \/>What&#8217;s interesting is that whale wallets have actually been accumulating during this phase. Over the last 30 days, whale wallets have grown their holdings, and since October 15th, they haven&#8217;t largely sold their positions. <a href=\"https:\/\/t.co\/L8TaEh2wch\">pic.twitter.com\/L8TaEh2wch<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1981980814897197056?ref_src=twsrc%5Etfw\">October 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The main outflow of coins has been recorded from wallets with balances ranging from 0.1 BTC to 10 BTC. Holders of these addresses have been selling assets since November 2024.<\/p>\n<p>Researchers believe that most &#8220;momentum&#8221; buyers have exited the market. Investors buying the dips have been unable to offset the increased supply.<\/p>\n<p>According to Glassnode, this imbalance will continue to pressure Bitcoin&#8217;s price until demand recovers in the spot market.<\/p>\n<h2 class=\"wp-block-heading\">Bull Market Signal<\/h2>\n<p>The price of digital gold has returned above the short-term holders&#8217; cost basis (STH-Cost Basis). Analysts at Checkonchain view this as a constructive signal for a bull market.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin has just reclaimed the Short Term Holder Cost Basis level. Short-lived undercuts of this important level are expected and constructive for the longevity of a bull market (weak hands get flushed out). <\/p>\n<p>What we don&#8217;t want to see is this level becoming resistance. If it\u2026 <a href=\"https:\/\/t.co\/58riv10rXc\">pic.twitter.com\/58riv10rXc<\/a><\/p>\n<p>\u2014 _Checkonchain (@_checkonchain) <a href=\"https:\/\/twitter.com\/_checkonchain\/status\/1982567982451900539?ref_src=twsrc%5Etfw\">October 26, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts consider brief dips below this mark to be expected and healthy. They say such movements &#8220;flush out&#8221; weak hands from the market.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;An undesirable scenario is for this level to become a resistance zone. In such a case, the risk of the market transitioning into a prolonged bear trend increases,&#8221; emphasized Checkonchain.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Bitcoin Breaks Above $115,500<\/h2>\n<p>Analyst Axel Adler Jr. pointed to the $115,500 level as crucial for the leading cryptocurrency. In his view, a breakout and sustained move above this mark would confirm the continuation of the upward momentum.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">While the market is testing $115.5K, a breakout and sustained move above this range would signal a continuation of the upward momentum. <a href=\"https:\/\/t.co\/BapveR6jeA\">pic.twitter.com\/BapveR6jeA<\/a><\/p>\n<p>\u2014 Axel \ud83d\udc8e\ud83d\ude4c Adler Jr (@AxelAdlerJr) <a href=\"https:\/\/twitter.com\/AxelAdlerJr\/status\/1982701345548169642?ref_src=twsrc%5Etfw\">October 27, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Adler also noted a new price gap on the Chicago Mercantile Exchange that formed over the weekend. He pointed out that over long horizons, most gaps close due to Bitcoin&#8217;s high volatility and its tendency to revisit previous levels.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Over long horizons, many gaps do get filled simply because Bitcoin is volatile and often revisits previous levels. There\u2019s no magic or 100% accurate signal in it it\u2019s mostly a visual pattern that many traders watch, which sometimes becomes self-fulfilling.<\/p>\n<p>\u2014 Axel \ud83d\udc8e\ud83d\ude4c Adler Jr (@AxelAdlerJr) <a href=\"https:\/\/twitter.com\/AxelAdlerJr\/status\/1982707678628749612?ref_src=twsrc%5Etfw\">October 27, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;There\u2019s no magic or 100% accurate signal in it. It\u2019s mostly a visual pattern that many traders watch, which sometimes becomes self-fulfilling,&#8221; explained the analyst.<\/em><\/p>\n<\/blockquote>\n<p>As reported by CryptoQuant, specialists <a href=\"https:\/\/forklog.com\/en\/news\/cryptoquant-identifies-bitcoin-dolphins-as-new-market-growth-drivers\">noted<\/a> that the high concentration of the leading cryptocurrency in &#8220;dolphin&#8221; addresses (100-1000 BTC) makes their activity a key factor in determining market direction in the late stages of a bull phase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Glassnode observed a reduction in Bitcoin&#8217;s illiquid supply. Since mid-October, long-term investors have withdrawn about 62,000 BTC from their wallets.<\/p>\n","protected":false},"author":1,"featured_media":90307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Glassnode notes a reduction in Bitcoin's illiquid supply, impacting market dynamics.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1273,1145],"class_list":["post-90306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-glassnode","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"136","promo_type":"1","layout_type":"1","short_excerpt":"Glassnode notes a reduction in Bitcoin's illiquid supply, impacting market dynamics.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90306"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90306\/revisions"}],"predecessor-version":[{"id":90308,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90306\/revisions\/90308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90307"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}