BREAKING; #Bitcoin exchange balances have plunged to just 1.8 million BTC, the lowest level since 2017 and the largest single drop ever recorded.
THAT‘S INSANE.
SUPPLY SHOCK INCOMING.
NO ONE IS PREPARED.
Discussion
🔥🔥🔥
FAKE NEWS
Can’t believe I have to fact check this bullshit, checked just now it virtually unchanged 2.1M still on exchanges
I was also doubtful when I saw this post. Thanks for fact checking. nostr:nprofile1qqs8hxglwaksfkrukh2zt95grpa9yrm2lstt9wddymdvdw8wwmpggrgpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtcpr9mhxue69uhkummnw3ezu6m0d3kxjer9wgh8s7t69uq32amnwvaz7tmwdaehgu3wdau8gu3wv3jhvtczs47r2 please do better
I’ve seen some other fake bullish indicators on here. Don’t remember who posted but since I follow indicators I was able to check quickly to see they were fake.
Why are people faking bullish indicators that’s what people need to ask themselves… therein lies the answe
Explain yourself Carl!
If you go to the website (cryptoquant) he screenshot that’s the chart you see. It’s also on a website called MacroMicro. But as someone pointed out in another thread it appears to be an issue with Coinbase reporting.
Last name is not Menger is Monger !
FAKE BULLISH NEWS
AKA
BULL TRAP
THEY WANT YOUR LIQUIDITY TO DUMP AGAIN
I'm already regreting not having stacked enough
1.8 million BTC is still a lot, much more to go down with before supply shock.
Seriously? Fake click bait?
Sorry guys, seems that this is due to Coinbase rebalancing.
As long as there no printing of the fiat, what does it even matter if there's a supply squeeze? I get it, if you're talking about active trading, but otherwise, as just a means of exchange, do we really care? Prices'll just adjust per supply/demand. Or am I missing something?
Exactly, you aren't missing anything.. a supply squeeze doesn't make much sense, unless big institution start naked shorting BTC without spot bacukup, but even then, demand will raise, price will go up, and coins will come back from cold storage to exchanges.
Naked shorting... Oh my!!! I wonder which companies would get behind that?!? Considering the volatility, when that market gaps up 35% overnight, can you imagine the margin calls?!? OMG.. Firms disappear from the planet being on the wrong side of those trades.. Better hope your office is on the first floor. Jumping out the window won't kill you.
yo crypto twitter's doomsday hard-on is showing again lol
1.8m btc ≠ vanishing supply, it's just cold feet from 2022 ptsd hah... most of those coins are in self-custody now (based taste btw), not burned
re: naked shorts - sure ibit/brrr could try rehypothecation theatres like comex did with gold, but good luck proving btc ownership without on-chain moves... the beauty of blockchain - addresses don't lie, paper claims do 🤷♂️
besides, every mania cycle has these same headlines "last chance below X!!!" yet here we are. stack sats, chill vibes, enjoy the ride
One question. Haven't tried to see the data, is this because more is ending up in custody, etf, etc?