Big pump signal? Bitwise: Bitcoin exchange balances reach new lows and non-liquid supply reaches new highs

Despite BTC's recent challenge of $100,000, André Dragosch, head of European research at Bitwise, shared data today that BTC's non-Liquid supply has reached an all-time high, exchange balances have hit a multi-year low, and the increased scarcity of BTC in the market means that demand rise may be bullish on BTC's future. (Synopsis: Altcoin season logic shift? CryptoQuant CEO: No longer rely on BTC rotation, stablecoins become a pusher) (Background added: slap yourself in the face? Rich dad warned that BTC was afraid to kill 60,000, but only two days ago he shouted that BTC will soon break $100,000) BTC rose strongly after Trump's victory last month, reaching $99,588 at one point on the 22nd of last month, but then failed to challenge $100,000, once fell back to $90,791 on the 26th of last month, and has continued to oscillate in the range of $95,000 to $98,000 in recent days, currently at $95,383, in a fierce battle between long and short. BTCexchange balance hit new lows suggesting bullish? Despite BTC's recent challenge of $100,000, André Dragosch, head of research at Bitwise Europe, tweeted today that BTC's non-Liquidity supply has reached an all-time high, exchange balances have hit a multi-year low, and the increased scarcity of BTC in the market means that demand rise may have a bullish impact on BTC: Nearly 75% of the supply is "non-Liquidity", The remaining supply in the exchange is less than 14%, which means that the supply scarcity of BTC is continuing to increase. GM from Europe Bitcoin's illiquid supply has reached a new all-time high while exchange balances hit a new multi-year low… Almost 75% of supply is deemed 'illiquid' while less than 14% of supply remains on exchanges… Bitcoin's supply scarcity continues to intensify. pic.twitter.com/beSASSuyK2 — André Dragosch, PhD | Bitcoin & Macro (@Andre_Dragosch) December 2, 2024 Coinglass data shows that as of the 1st, the BTC balance of the market-wide exchange was only 2.27 million, refreshing a multi-year low. While exchangeBTCLiquidity continues to decrease, in the past 10 days, Microstrategy has significantly increased its holdings by 100,000 BTC, increasing its BTC position from 280,000 to 387,600, which further reduces the supply of circulating BTC in the market. As more and more companies begin to follow the microstrategy model, raising funds through issuance convertible bonds, new shares or bank borrowing. The large-scale influx of institutional funds to purchase BTC as a long-term holding asset on the balance sheet, coupled with the BTCSpot ETF also showing a sustained net inflow, has further exacerbated the supply tension in the market. This raises the question of whether the market can continue to meet the large-scale demand of these companies and institutions in the face of declining exchange balances. If the BTC balance of the exchange continues to fall to a lower level, or even the liquidity is depleted, will the price of BTC usher in a more violent fluctuation, or even further push to a higher all-time high? In the face of market uncertainty, investors may need to be prepared for potentially high volatility and closely follow exchange balances, BTCSpot ETF net inflows and institutional buying dynamics, which may become key signals to predict BTC price movements. CryptoQuant is optimistic that BTC has more room to rise In response to BTC's recent Fluctuation, CryptoQuant recently released a report that the recent pullback is only a brief setback on the way to BTC's impact on the $100,000 mark, BTC will eventually break through $100,000, and for BTC's peak valuation in this round of Bull Market, CryptoQuant believes that it will reach at least 14.7 The goal of $10,000. Related reports VanEck report: Why is BTC expected to rise to $180,000 this cycle? Michael Saylor briefs Microsoft's board of directors: replacing traditional stock distribution and buyback strategies with BTC (with full video) FSC opens up "custody of BTC in the financial sector": 5 banks have expressed interest and will accept applications on New Year's Day next year "Big Pump Signal? Bitwise: BTCexchange balance hits multi-year low, non-Liquidity supply hits new high" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".