Little Update on my @Cryptoquant Quicktake from yesterday
Update on Stablecoin Reserves on Exchanges and #Bitcoin Exchange Balances Hitting New Lows /1
cryptoquant.com/quicktake/6171…
Update on Stablecoin Reserves on Exchanges and #Bitcoin Exchange Balances Hitting New Lows /1
cryptoquant.com/quicktake/6171…
Overall the stablecoin reserves on exchanges yesterday increased slightly and did not go down despite BTC hitting a new ATH. Additionally, BTC exchange balances on exchanges continue to go down. /2
Considering the Quicktacke from yesterday, this means:
- stablecoins are rotated into $BTC 🔄
- but at the same time, enough fresh capital is coming in to compensate for that 💰
/3
- stablecoins are rotated into $BTC 🔄
- but at the same time, enough fresh capital is coming in to compensate for that 💰
/3
Coupled with the decline in BTC exchange balances, this is a very positive development looking at the months ahead.
As long as you are stacking sats, this is not relevant for you, but be cautious if you are trading with leverage or think about trading with leverage here! /4
As long as you are stacking sats, this is not relevant for you, but be cautious if you are trading with leverage or think about trading with leverage here! /4
We might see some short-term corrections in between #Bitcoin's price making new ATHs. After all, price usually does not just go up in a line. /5
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