Bitcoin's massive price rally today is similar to 2017, but there is a very different mechanism behind it.
Chart Source: CryptoQuant
Since Bitcoin from this world, until now , only the trend of Bitcoin ownership, passwords, currency exchange increasesyeotdamyeon, BTC 2020 purchases for inflation hedge + long-term investment ① institutional investors and on such ② raepteu Bitcoin (WBTC) This is because of the number bitcoin on exchanges has completely dried up due to the locking of bitcoins on the chain .
Bitcoin or Ethernet Solarium are both the biggest selling force that is mined. Now you because the miners have so far started dumping orders on the market at the same time for the purpose of revenue realization and exploitation of investment period income, but can not avoid the sharp decline this year, the number is more workable The amount purchased by the institution is much larger , and there is no sign of exit to the exchange, even the amount tied to the on-chain (private wallets) of various public chains including Ethereum and Binance Smart Chain.