A net outflow of 18,828 Bitcoins occurred from the exchanges yesterday (March 28, 2024) alone. But what is the reason?
Following the approval of Bitcoin Spot ETF, net BTC outflows from exchanges continue to increase.
⚠️ A net outflow of over 10K was achieved 6 times.
A total of more than 10 thousand Bitcoins exited from all exchanges (CEX and DEX) on 6 different days in 2024.
Following the spot ETF approval, the most intense color in Bitcoin net outflow was red (buyers are strong). So much so that we witnessed a net Bitcoin outflow of 14K, 18K, 20K, 12K, 14K on 6 different days, respectively, and finally 18,828 yesterday. It would not be wrong to associate these with corporate purchases (I will prepare a detailed article in the future).
After such a large amount of Bitcoin outflows, we can expect the supply shock to continue to increase (but first, necessary liquidations must be made on the leverage side) and it would not be wrong to expect serious increases.
✅ Result
Bitcoin is the only asset in limited supply that central banks cannot claim.
We can foresee that interest in Bitcoin will increase with the start of the global interest rate cut cycle in the near future. Then, predicting that both corporates and individual investors will compete to buy Bitcoin... This could lead us to a stronger bull cycle than we have ever witnessed.
Thank you for reading 🙏
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