Bitcoin Reserves At All-Time Low
People are going to be scrambling to buy Bitcoin – if they can. Reserves are at an all-time low
Bitcoin buyers mean business as Coinbase reserves drop $8B in 3 months
“‘IMO what’s happening is US institutions and HNWI are scooping up the available coins from weak hands and locking it up as strong HODLers in response to monetary inflation'” statistician Willy Woo commented last week.
‘Coinbase BTC supply dropping off a cliff suggests US institutional buying there.’
Woo added that these ‘strong’ hands had been buying up the supply put on the market during every price correction over the past year, with ‘insanely bullish’ results.”