TBH, it has nothing to do with the inflation but I would say that this is a bullish point for Bitcoin as people are moving their funds into cold storage or to non-custodial wallets for long-term custody/holding. Before the start of the Bull Run, the on-chain activity was already indicating the shortage of the accumulation supply and this was the biggest reason I'm supper bullish for this cycle that the market is gonna hit $200k in BTC.
The capitalization market is gonna hit almost $7T to $9T, and with this capital with the current dominance of the Bitcoin target seems like a piece of cake but this net capital amount in the market is really optimistic it depends on the regulatory developments are gonna happen in 2025. Hoping for the best here.
Topic: The Weekly Net Outflow of Bitcoin from Exchanges Has Been Increasing - page 2. (Read 189 times)
February 26, 2024, 02:53:56 PM
February 25, 2024, 10:45:21 PM
According to IntoTheBlock data, since the launch of the spot Bitcoin ETF in January, the weekly net outflow of Bitcoin from exchanges has been consistently increasing. This week, the net outflow reached $540 million, marking the highest amount since June 2023.
This reflects a belief in Bitcoin's potential as a store of value and a hedge against inflation. Long-term holders and institutional investors, in particular, may be taking a more strategic approach to their Bitcoin holdings, viewing them as a strategic asset allocation rather than a short-term speculative investment.
This reflects a belief in Bitcoin's potential as a store of value and a hedge against inflation. Long-term holders and institutional investors, in particular, may be taking a more strategic approach to their Bitcoin holdings, viewing them as a strategic asset allocation rather than a short-term speculative investment.
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