PANews reported on December 14 that 10x Research stated there are increasing claims regarding the tightening of bitcoin supply, especially as bitcoin ETFs and MicroStrategy continue to accumulate, leading to a decreasing available supply of bitcoin, laying the groundwork for a potential 'squeeze' market. Over the past 30 days, exchanges have recorded a net outflow of 124,000 bitcoins. It is worth noting that:
Coinbase, holding the largest bitcoin reserves, has seen an outflow of 72,000 bitcoins, accounting for nearly 10% of its total balance, which currently stands at 748,000 bitcoins.
Binance has seen an outflow of 29,000 bitcoins, with a remaining balance of 570,000 bitcoins.
In contrast, Bitfinex has seen an inflow of 8,500 bitcoins, increasing its holdings to 391,000 bitcoins.
Other major exchanges, such as Gemini, OKX, and Kraken, have 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 tightening of bitcoin supply. The launch of these bitcoin ETF options could further exacerbate this situation, potentially triggering additional gamma squeezes, thereby intensifying price pressure.
