BlockBeats news, on December 14, 10x Research stated on social media that an increasing number of people believe there is a supply tightness in Bitcoin, especially as the Bitcoin ETF and MicroStrategy continue to accumulate, reducing the available supply of Bitcoin and laying the groundwork for a potential 'squeeze' market.
In the past 30 days, centralized exchanges recorded a net outflow of 124,000 Bitcoins. Coinbase, which has the largest Bitcoin reserves, saw an outflow of 72,000 Bitcoins, accounting for nearly 10% of its total balance. Binance experienced an outflow of 29,000 Bitcoins, leaving 570,000. Other major exchanges, such as Gemini, OKX, and Kraken, also experienced significant outflows, with Kraken's outflow accounting for about 7-8% of its holdings.
If these trends continue and demand remains strong, the market may face a severe supply tightness of Bitcoin. In particular, the introduction of options for Bitcoin ETFs could further exacerbate this situation, triggering additional gamma squeezes and amplifying price upward momentum.
