Bitcoin Supply Squeeze Wey Come from Long-Term Holder Accumulation
Glassnode latest on-chain analysis show say Bitcoin exchange balances don fall below 15% of circulating supply for the first time since 2018. But, na only exchange outflows no go trigger real supply shock. Data show say long-term holders dey collect about 19,300 BTC per month, pass miner issuance wey be 13,400 BTC. This constant absorption outside exchange don create real Bitcoin supply tightness. Small fish wey hold less than 1 BTC to bigger holders wey hold 10-100 BTC no too dey price-sensitive, wey dey tighten market supply more. As Bitcoin price climb near $118,900, traders suppose dey watch Long-Term Holder Supply vs. Issuance metric for better understanding. On-chain and derivatives indicators point to high short-term volatility. Even small change for demand fit cause big price swings. Traders need make dem consider these supply constraints and possible volatility for their strategies.
Bullish
Di report talk sey long term holders dey collect more BTC pass wetin miners dey issue, plus exchange balances dey very low like say e never reach dis level for many years, dis one mean say supply get real tight tight. For short term, less supply for exchange fit make price dem dey waka anyhow more, as traders go dey change their position sharp sharp. For long term, as long term holders dey gather plenty BTC, e go cause scarcity wey go make price continue dey go up. Even though short term fit get wahala with price wahala, dis supply tightness wey real demand from outside exchange dey cause, na im dey push better outlook for Bitcoin.