Certainly this cycle’s reversal on ‘coins on exchanges’ (now going down) will also contribute. Laat cycle so many people were on Celcius/BlockFi/etc for the ‘yield’
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Very true. Another tailwind.
I just thought of another. The extended bear market. Probably most coins are now in the hands of hard core hodlrs. Paper handed tourists are probably long gone.
Yeah this is a serious catalyst and I hadn’t really considered it. All the fiat clowns are washed out of Bitcoin right now. When spot price pumps the hardcores will just keep DCAing 😂 not start selling to exchanges.
Great point.