FVyJEqMn9kS68lvciM83 on Nostr: The cryptocurrency is relatively insensitive to macroeconomic conditions. If the ...
The cryptocurrency is relatively insensitive to macroeconomic conditions.
If the market is more influenced by the overflow of the US dollar liquidity, the funds that entered the market in 2020-2021 would have purchased a large amount of BTC and withdrawn from the exchanges. In 2022, these BTCs should have been deposit back to the exchanges and sold for US dollars to exit the market.
However, data shows that the BTC balance in exchanges did not see a significant increase in 2022, but instead a slight decline, indicating that more funds continued to flow in and chose to store value in BTC. Starting from 2023 and until now, the trend of a straight-line decline in BTC holdings has re-emerged and even more funds are flooding in. #bitcoin
If the market is more influenced by the overflow of the US dollar liquidity, the funds that entered the market in 2020-2021 would have purchased a large amount of BTC and withdrawn from the exchanges. In 2022, these BTCs should have been deposit back to the exchanges and sold for US dollars to exit the market.
However, data shows that the BTC balance in exchanges did not see a significant increase in 2022, but instead a slight decline, indicating that more funds continued to flow in and chose to store value in BTC. Starting from 2023 and until now, the trend of a straight-line decline in BTC holdings has re-emerged and even more funds are flooding in. #bitcoin