Also the sad reality that a lot of the liquidity now is flowing in and out of the ETF. so no one is moving money from/to their own wallets.
BITCOIN LIQUIDITY IS TRAPPED.
#Mempool is empty, and it’s a cold truth considering the shitcoinery it was happening on it. Yet most traded Bitcoin isn’t moving because it’s locked up with custodians. ETFs, exchanges, and custodial wallets are holding the keys while retail ignores self-custody. And shitcoiners are moving to cheaper networks.
🏴☠️40% of the #bitcoin traded volume still moves through exchanges
🔸OTC balances are up 105%
🚩Only 35% of long-term holder supply went to ETFs
🔸ETF trading volume is just 4% of the total market.
That’s why I don’t think it’s
the ETFs. We simply need to recognise that only a fraction of a fraction is holding their own keys. Which is a rug risk indicator. And also a validation that the sheeple don’t want to be sovereign.
We better take advantage and build better solutions.
#Mempool is empty, and it’s a cold truth considering the shitcoinery it was happening on it. Yet most traded Bitcoin isn’t moving because it’s locked up with custodians. ETFs, exchanges, and custodial wallets are holding the keys while retail ignores self-custody. And shitcoiners are moving to cheaper networks.
🏴☠️40% of the #bitcoin traded volume still moves through exchanges
🔸OTC balances are up 105%
🚩Only 35% of long-term holder supply went to ETFs
🔸ETF trading volume is just 4% of the total market.
That’s why I don’t think it’s
the ETFs. We simply need to recognise that only a fraction of a fraction is holding their own keys. Which is a rug risk indicator. And also a validation that the sheeple don’t want to be sovereign.
We better take advantage and build better solutions.
🤙1
