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Taking a break on this, but still traditional finance institutions refuse to release the data they have on the supply situation on Bitcoin meaning there's a big multiplier on every $1 that enters Bitcoin.
I always do Fundamentals on-chain before drawing macro trends on anything, Bitcoin would have to be the best asset for this as we can see everything on-chain unlike Gold or Stocks and Bonds to the exact unit.
Bitcoin cannot I repeat Bitcoin cannot remain under $200,000 if less than 2% of institutions allocate to Bitcoin. The supply is simply just not there.
ON-CHAIN DATA AS OF POST
Bitcoin: Total Supply Held by Long-Term Holders
14,850,716 BTC (Lost and holders who will not sell)
Bitcoin: Balance in Miner Wallets - All Miners
1,830,337 BTC
Bitcoin: Balance on Exchanges (Total) - All Exchanges
2,318,356 BTC
(I believe a lot of this balance is already allocated to the Spot ETF's so again it will be moved once launched and not sold)
End
Taking a break on this, but still traditional finance institutions refuse to release the data they have on the supply situation on Bitcoin meaning there's a big multiplier on every $1 that enters Bitcoin.
I always do Fundamentals on-chain before drawing macro trends on anything, Bitcoin would have to be the best asset for this as we can see everything on-chain unlike Gold or Stocks and Bonds to the exact unit.
Bitcoin cannot I repeat Bitcoin cannot remain under $200,000 if less than 2% of institutions allocate to Bitcoin. The supply is simply just not there.
ON-CHAIN DATA AS OF POST
Bitcoin: Total Supply Held by Long-Term Holders
14,850,716 BTC (Lost and holders who will not sell)
Bitcoin: Balance in Miner Wallets - All Miners
1,830,337 BTC
Bitcoin: Balance on Exchanges (Total) - All Exchanges
2,318,356 BTC
(I believe a lot of this balance is already allocated to the Spot ETF's so again it will be moved once launched and not sold)
End