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71 Greed

Bitcoin Sellers Exhausted? On-Chain Data and BTC ETF Flows

Original title: On-Chain Data Shows Bitcoin Sellers Are Exhausted – What’s Next? w/ Mitchell Askew

Bitcoin Magazine 13:26 7,250 views on YouTube BTC −0.4% FORM −8.6%
Thumbnail for On-Chain Data Shows Bitcoin Sellers Are Exhausted – What’s Next? w/ Mitchell Askew 13:26

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Summary

Bitcoin is rallying even as the Federal Reserve has raised rates and the Clarity Act has failed. On-chain data suggests that sellers may be nearly exhausted. Long-term holder supply reached an all-time high of 15 million BTC this summer. That measure tracks coins that have not moved for a long period. Blockware Intelligence links this high supply to a possible lack of selling pressure. Bitcoin ETF flows are also in focus, with the data showing institutional buyers returning to the market. AI data centers are pulling compute away from Bitcoin mining. That shift raises questions about the hash rate bear market and whether Bitcoiners should worry. Stranded energy, global mining and AI data center arbitrage are related themes. Questions remain about why Gen Z is not buying homes and whether Gen Z will ever save in BTC. Shallower drawdowns and the future of Bitcoin cycles are also part of the discussion.

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Key points

  1. Bitcoin is rallying despite a Fed rate hike and the failure of the Clarity Act.
  2. Long-term holder supply hit an all-time high of 15 million BTC this summer.
  3. Bitcoin ETF flows reveal institutional buyers returning to the market.
  4. AI data centers are pulling compute away from Bitcoin mining.
  5. Gen Z is not buying homes.

Chapters

Chapters come from the timestamps in the video description.

Questions

What did long-term holder supply reach?
It reached an all-time high of 15 million BTC this summer.
What do Bitcoin ETF flows show?
They show institutional buyers returning to the market.
What is pulling compute away from Bitcoin mining?
AI data centers are pulling compute away from Bitcoin mining.

Related briefs

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