Leading crypto exchange Bitfinex released its latest Bitfinex Alpha report, a weekly publication that offers on-chain data and insights into the dynamic crypto market. This week’s document found that the amount of unmoved bitcoin has reached its highest point.

The report further highlights an intriguing development in liquidity trends. Bitcoin liquidity has experienced a decrease, while that of Tether USDT has witnessed a noteworthy increase.

Bitcoin’s Unmoved Supply Hits ATH

Bitfinex Alpha attributes the surge in unmoved bitcoin to the growing interest of institutional investors in the digital asset.

Citing data from Ark Invest, an investment firm headed by the renowned Cathie Wood, the paper stated that about 70% of BTC’s circulating supply has been unmoved for at least a year, the highest ever recorded.

The increasing involvement of these big players indicates strong bullish sentiment and unwavering confidence in bitcoin’s long-term prospects.

According to the report, the BTC balance held on over-the-counter (OTC) desks, which serves as a reliable indicator of institutional activity, reached a one-year high in June. The balance surged by an impressive 60% by the end of the third quarter. This growth suggests that institutions and large investors are actively embracing the cryptocurrency as an attractive investment option.

The researchers also found that the bitcoin holdings of crypto-related hedge funds, investment firms, and private funds have significantly increased as institutional investors accumulate BTC at the current price level.

Derivatives Traders Dominating the Market

However, per the report, there has been a notable surge in Bitcoin Open Interest, exceeding a substantial 38% increase since the initial spot Bitcoin ETF filing by the world’s largest asset manager BlackRock.

This rise indicates a potential shift in market dynamics, with derivatives trader