Bitcoin Holdings By Major Entities At 6M; Why Is BTC Still Below $100k?
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- Bitcoin held by major entities has surged in the past two years to nearly 6 million.
- The BTC/USD pair must rally beyond $99k to invalidate a selloff to $76k.
- Onchain data analysis shows some BTC whales have accelerated selloff YTD.
The demand for Bitcoin (BTC) by institutional investors has surged exponentially in the past two years. The regulatory clarity in major jurisdictions, led by the United States, has increased institutional conviction in Bitcoin as a hedge against inflation and macroeconomic uncertainty.
Bitcoin Supply on Exchanges Diminishes
According to onchain analysis from Glassnode, the supply of Bitcoin on centralized exchanges has dropped exponentially to below 3 million in the last two years. Major Bitcoin holders have expanded their positions to roughly 5.94 million BTC, accounting for nearly 29.8% of the asset’s circulating supply.
Read The Full Article Bitcoin Holdings By Major Entities At 6M; Why Is BTC Still Below $100k? On Coin Edition.
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Bitcoin Holdings By Major Entities At 6M; Why Is BTC Still Below $100k?
Share:
- Bitcoin held by major entities has surged in the past two years to nearly 6 million.
- The BTC/USD pair must rally beyond $99k to invalidate a selloff to $76k.
- Onchain data analysis shows some BTC whales have accelerated selloff YTD.
The demand for Bitcoin (BTC) by institutional investors has surged exponentially in the past two years. The regulatory clarity in major jurisdictions, led by the United States, has increased institutional conviction in Bitcoin as a hedge against inflation and macroeconomic uncertainty.
Bitcoin Supply on Exchanges Diminishes
According to onchain analysis from Glassnode, the supply of Bitcoin on centralized exchanges has dropped exponentially to below 3 million in the last two years. Major Bitcoin holders have expanded their positions to roughly 5.94 million BTC, accounting for nearly 29.8% of the asset’s circulating supply.
Read The Full Article Bitcoin Holdings By Major Entities At 6M; Why Is BTC Still Below $100k? On Coin Edition.
In This News
Share:
In This News
Share:
Read More
U.S. bitcoin, ether ETFs see largest outflows since Nov. 20 as BTC declines