Approximately 62,000 BTC have moved out of long-term dormant wallets since mid-October, reducing illiquid Bitcoin supply, Glassnode data show. Whale wallets have continued accumulating over the past 30 days with no major sell-offs since Oct. 15, while wallets holding 0.1-10 BTC (equivalent to $10,000-$1 million in assets) have maintained net selling since November 2024. The decline in illiquid supply has increased circulating tokens, and without strong new demand, analysts note that upward price momentum faces greater resistance as momentum traders have largely exited and dip-buying capital has not generated sufficient demand to absorb selling pressure.