Less #Bitcoin on exchanges = fewer sellers = higher prices.
Simple.
Discussion
That was almost the exact amount accumulated by the ETFs right?
Bitcoin going from ppl holding on exchanges to investors holding on ETFs…
Why aren’t we down the ETF + MSTR bitcoins?
Exchanges should be down 1M BTC off the December 2023 level…
Right, there’s a lot of it coming from OTC markets too.
Isn’t OTC mostly miners? Or is there a place where we can find what types of coins are trading on OTC?
OTC desks generally buy from many sellers (holders, miners, exchanges) and sell to one buyer. Idk the percentages coming from each of them. Miners are not selling that much now so I guess is coming mainly from exchanges and particular holders.
It’s called Over The Counter for a reason, I doubt you’ll find a place with such data 🤣😬
Yes it’s mainly moved from exchanges to Coinbase custody so even though it’s in an ETF it’s still really on an exchange.
I haven’t run the latest.
nostr:npub1neuqdjl2v759tk289ay4mx6xl22wsg3fy5uw3cfm07s5mgn3uhpsy0t2vz did you?
ps: OTCs are stacking as well.
Everything in this chart is wrong, dn’t rely on it for info
its dropping like a rock