Shock: BTC exchange balance hits bottom, are we about to have a big bull run?
Amid anticipation of a major post-Havling rally, Bitcoin (BTC) exchange reserves have hit an all-time low, falling below $2 million.
Thomas Fahrer, co-founder of Apollo, echoed this in his recent post on social media platform X, noting that dwindling BTC exchange reserves could be a warning sign significant price increase.
In his post on demand + inelastic supply”.
In particular, this trend shows that many investors are moving their BTC off exchanges in order to hold them long-term in anticipation of price increases.
Institutions, including hedge funds and public pensions, are increasingly accumulating through ETFs. This trend marks a significant shift in the way traditional financial institutions view these crypto assets.
Thomas Fahrer pointed out that Horizon Kinetic Asset Management has made a significant commitment to BTC. The company has invested $913 million in IBIT and GBTC, accounting for about 14% of the total $6.5 billion in assets under management.
Public pensions are also entering the fray, with the state of Wisconsin investing $160 million in a Bitcoin ETF.
Furthermore, recent filings by Morgan Stanley reveal significant investments in the Bitcoin ETF market. The bank purchased 31,712 shares of Ark’s 21Shares ETF (ARKB) and allocated $269 million to Grayscale Bitcoin Trust (GBTC).