False alarm! Let the numbers speak for themselves. CryptoQuant founder: Bitcoin sold by the government accounts for only 4% of the $224 billion in bull market capital inflows
On July 6, according to Cointelegraph, Ki Young Ju, founder and CEO of the on-chain analysis platform CryptoQuant, posted on the X platform that the government's selling of Bitcoin was overestimated. Ki Young Ju believes that the amount of Bitcoin sold by governments around the world is negligible compared to the overall inflow in the Bitcoin field. Since 2023, $224 billion has flowed into the market. The BTC seized by the government accounts for only 4% of the cumulative realized value since 2023, about $9 billion. Therefore, this selling pressure is unlikely to reverse the trend of the bull market. Yesterday's pin was purely a dealer's use of the topic to play up, and it is estimated that retail investors will be harvested and the shock will be washed.