Amazing BULLISH sign for Bitcoin: Whales are accumulating more & more BTC and withdrawing it from exchanges to Hodl wallets!
Today I want to share very bullish and exciting charts about Bitcoin with you, which are showing that the current bull market is approximately just in the middle of this cycle.
This chart here shows, that the BTC balance on exchanges is becoming lower and lower, even if the Bitcoin price is continuing to going up:
Source: https://glassnode.com/
What does it mean?
This on-chain data shows us, that there are more and more holders, who are not willing to sell their Bitcoin to Fiat and sending their BTC to hodl wallets with private keys. In addition this means, that the
liquid supply of BTC on exchanges is very low and especially for big institutions it´s becoming more difficult to buy big amounts of BTC in a short term of time, without pumping up the market heavily.
Michael Saylor also said in his interview that he has to buy for many days every day, to accumulate big amounts of Bitcoin, without manipulating thew market. (pumping it to much)
Here you can find my article with the latest Interview of Michael Saylor about Bitcoin (you should not miss it, it´s mindblowing): https://leofinance.io/@future24/this-new-interview-with-michael-saylos-is-mindblowing
Another very interesting chart, which underlines the previous chart, is this one here:
The chart shows the amount of BTC addresses holding more than 1 Million Dollar in BTC. Here you can see, that whales are accumulating more & more Bitcoin and the number of whales is raising a lot. Of course this is also happening because more and more institutions are joining the crypto market.
One of the latest big company who announced that they joined the cryptocurrency market is "Meitu" for example, a tech firm known for a popular photo-editing app, said Sunday that it bought some US$40 million ($52 million) worth of cryptocurrency. That includes about $23.48 million worth of Bitcoin and more than $28.7 million worth of Ethereum.
And just yesterday the Norwegian stock exchange listed energy company "Aker ASA" announced, that they founded a subsidiary company with the name "Seetee", which is doing a collaboration with Blockstream and will invest in Bitcoin mining. They are also exchanging their liquid capital in to Bitcoin and they are currently holding around 1170 Bitcoin.
There are more and more bullish news for Bitcoin almost every day and it´s becoming more & more exciting.
Stay tuned for more updates on my block here in the next days, weeks and months!
Best regards and hear you in my next article!
Jonas - @future24
