advocacy
A place for grassroots organizing in support of all things onchain.
Patrick Atwater pfp
1 reply
0 recast
0 reaction
Patrick Atwater pfp
0 reply
0 recast
1 reaction
Rango.DEGEN.eth🎩🐹 pfp
The Week On-Chain 29, 2024 The Bitcoin market recently absorbed over 48k BTC in sell-side sourced from the German Government. With Mt Gox distributions also on the horizon, we examine these major sell-side forces, as well as the role ETFs have on price action. Executive Summary - Large labelled entities currently hold approximately 4.9M BTC, which is equivalent to 25% of the circulating supply. Amongst these entities, centralized exchanges and ETF custodians account for the largest portion. - Following the complete exhaustion of BTC sell-side by the German Government, there appears to be near-term sell-side relief, as well as renewed inflows of demand to support the market. - Market profitability remains remarkably robust, with the majority of the coin supply still held at a favourable cost basis, and below the current spot price.
0 reply
0 recast
0 reaction
Jared 🎩 pfp
0 reply
0 recast
0 reaction
Rango.DEGEN.eth🎩🐹 pfp
0 reply
0 recast
1 reaction
Jared 🎩 pfp
0 reply
0 recast
4 reactions
Rango.DEGEN.eth🎩🐹 pfp
0 reply
0 recast
1 reaction
Oliver Zerhusen pfp
1 reply
0 recast
2 reactions
Jared 🎩 pfp
0 reply
1 recast
3 reactions
Jared 🎩 pfp
0 reply
0 recast
0 reaction
Jared 🎩 pfp
2 replies
1 recast
5 reactions
Jared 🎩 pfp
0 reply
0 recast
1 reaction
nuflark pfp
0 reply
0 recast
0 reaction
LΞO 🎩 pfp
0 reply
1 recast
3 reactions
0xJudd.eth 🎩↑ pfp
1 reply
1 recast
2 reactions