The chart shows that the current Bitcoin exchange balance has hit a new multi-year low, which is generally a very positive signal, but 👇
I now suspect that the exchange Bitcoin balances seen in Asia, Europe, and the Americas are not the same data—that is, are different data being displayed by region/language (Chinese-speaking, English-speaking) or are the numbers being changed? As Asian media and KOLs are all pushing a bear market narrative, or for other reasons, both retail and large holders in these regions have been consistently selling their Bitcoin. The recent phenomenon is: Asia and Europe are selling, while Wall Street is buying.
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The chart shows that the current Bitcoin exchange balance has hit a new multi-year low, which is generally a very positive signal, but 👇
I now suspect that the exchange Bitcoin balances seen in Asia, Europe, and the Americas are not the same data—that is, are different data being displayed by region/language (Chinese-speaking, English-speaking) or are the numbers being changed? As Asian media and KOLs are all pushing a bear market narrative, or for other reasons, both retail and large holders in these regions have been consistently selling their Bitcoin. The recent phenomenon is: Asia and Europe are selling, while Wall Street is buying.