Glassnode Suggests Bitcoin Exchange Supply Drop May Not Signal Immediate Shock Amid Long-Term Holder Accumulation
2025-07-12 12:22:45
Main Idea
Glassnode analyzes Bitcoin supply dynamics, noting that the drop in exchange supply does not necessarily signal an immediate supply shock due to long-term holder accumulation and other market factors.
Key Points
1. Bitcoin's supply on exchanges has fallen below 15%, but this alone does not confirm an impending supply shock.
2. Long-term holder accumulation plays a significant role in shaping market supply dynamics, as indicated by Glassnode's 'Long-term Holder Supply Storage vs. Issuance' metric.
3. Bitcoin recently reached a new all-time high of $118,909, triggering over $1.15 billion in short position liquidations.
4. Options markets show strong optimism for December, with strike prices around $140,000 and $150,000, signaling expectations for sustained price appreciation.
5. Institutional adoption and regulatory developments continue to influence Bitcoin's market dynamics.
Description
Glassnode challenges the common belief that declining Bitcoin exchange balances directly signal a supply shock, emphasizing a more complex market dynamic. Despite Bitcoin’s exchange supply dropping below 15% for the
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