So, you're expecting a BTC dump sooner than later? Not according to stats...

in LeoFinance2 months ago (edited)

A couple of hours ago, in an attempt to find information about the amounts of BTC that are currently stored on the exchanges, I came across to this super cool website that displays detailed info about BTC and ETH.

One can see how many BTC / ETH are stored on the exchanges...the flows, even how many of those coins are coming in but more importantly coming out of there and stored in cold wallets -obviously-

So here is how things look like for the past 7 days.

20210104 17_43_15Bitcoin BTC _ ViewBase.png

Obviously this isn't the full list of exchanges where one can buy BTC from but all the big names are there.

As you can see Coinbase is on top of the list with almost 807K BTC followed by Huobi, Binance and Kraken.

Out of the ~ 1.513 million currently stored on exchange wallets, 50%+ are held on Coinbase. What a massive number eh?

What's even more important though is the fact that all those institutions that are now buying BTC without any second thoughts regardless its price seem to know exactly what their doing and what's their plan.

As you can see from that list above, the past 7 days only more than 71K BTC came out of the exchanges. And when people withdraw something from an exchange the only logical explanation is because they want to store it somewhere safe. And that's usually cold wallets.

-71K BTC from the exchanges = ~ -4.5% less liquidity.

Less liquidity = thiner order books

And thiner order books usually drive the prices up.

That doesn't mean of course that things cannot change in a blink of an eye. This is the crypto world we are talking about after all, but for now it feels like those who kept buying all this time, have a long term plan...

Have a good one people.


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Supply less while demand remains high. Good points. Everyone hope on the BTC train. All aboard.

toot toot

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I want the price to go up when they are dipping
I want the price to go down whey they are rallying
:) :D :P

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I know right?

The story of my life...

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Absolutely. I am witnessing my first bull cycle and it is not easy :)

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Damn it!

Bitcoin is flyig pretty high.

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And it will keep flying high for some time I think

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Thanks for the heads up for the site.

Pretty useful don't you think?

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Do I understand correctly that exchange is not necessary for transferring coins. Opposite to stock market where trades should be registered on stock exchange. One company may agree with another and transfer / sell / buy at any price if they trust each other?

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You got to buy from somewhere. That's what exchanges are for. Of course you can make a deal under the table and agree to buy directly from someone but in that case trust is a necessary ingredient

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Institutions normally do not buy on the exchanges. They buy directly from miners in what is called the OTC (Over The Counter) market. They normally pay a premium of 7-8%, because these are brand new bitcoins that have no trade history. They do so, because they do not want to acquire coins that were in the past in the posession of unknown and potentially malicious actors.

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Scarcity arrived to the exchanges. That’s the reason of the price rise.
Soon, to get 1BTC is going to be very expensive 😉

Well buddy it's never really very expensive to buy BTC if you ask me.

Prices compared to a few years back have skyrocketed ofc but we all know where this thing is heading to, right?

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Imho, it does not matter if there is a correction or not. We are in a bull run. Everybody expects the top of this cycle to surpass $100k (stock to flow model). So, let it correct if it wishes to, it will come back stronger in a few days.

If you want to invest just do DCA (dollar cost averaging), you can not time the market.

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