Bitcoin’s (BTC) richest traders and investors are increasingly bullish on BTC despite facing downside risks from unfavorable macroeconomic factors, the latest onchain data suggests.
Bitcoin whales absorbing 300% of new supply
Bitcoin whales and sharks are now absorbing BTC at record rates—over 300% of yearly issuance—while exchanges are losing coins at a historic pace, according to Glassnode.
Notably, Bitcoin’s yearly absorption rate by exchanges has plunged below -200% as outflows continue. This signals a growing preference for self-custody or long-term investment.
Bitcoin yearly absorption rates. Source: GlassnodeMeanwhile, larger holders (100–1,000+ BTC) are
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