impossible to know. I did cover this topic in detail during two monthly Q&As recently.
But we cannot measure the sold vs withdrawn, exchange flows will not have the answer as all coins were distributed via exchanges.
The latest episode of the Rough Consensus podcast is live with Joe Caralsare.
This conversation was an absolute cracker, and Joe challenges so many of my priors throughout.
I think you're going to enjoy this one, I certainly did.
the halvening
down 50% since the merge.
no, really. I say this as someone more familiar with onchain data than most people in the world.
The data is guaranteed to be incorrect. More likely moved to a new internal wallet and that data provider has not kept up.
happy to, what's your handle? same as here?
In case folks didn't know, there is a full suite of Bitcoin charts available over at charts.checkonchain.com
All free, onchain, ETFs, derivatives and comparisons with TradFi.

HODLers are selling millions of dollars worth of coin every day. They have done for several months.
This is why things move slower, the capital needs to be larger, and the higher it goes, the more bitcoiners step off the train (with a fraction of their holdings)
Learn the onchain basics.
Realised Cap
MVRV
SOPR
if you can master those, you will be 5x better at picking market opportunities and risks than the average bear.
Have you seen timechainindex.com by nostr:npub1neuqdjl2v759tk289ay4mx6xl22wsg3fy5uw3cfm07s5mgn3uhpsy0t2vz ?
One of the few exceptions, SanI is a serious and professional analyst.
Folks, one pro tip I recommend for everyone, is to ignore all commentary related to exchange balances that isn't coming from a serious professional analyst (even then, question it...).
Few data providers do a good job tracking the wallets, few analysts understand the data, and what is available is almost exclusively noise and click bait. The nuances are beyond ridiculous, and the problem is endlessly dynamic.
inflows, outflows, balances and supply squeezes. It has no relevance to price or the market, and should be ignored in the vast majority of circumstances.
Don't whale watch kids.
data is almost certainly wrong.
pro tip, ignore all exchange wallet commentary. It is almost always noise.
chopsolidation, it's good for the soul (and the bull)
Will do Tom...im always thirsty, but not always in Brissy






