“In the past year, the BTC holdings in Asia have fallen more than 400,000, and the BTC holdings in North America (represented by US) have increased by more than 600,000. This prove again that Chinese holds are selling and American institutions are buying”.
U.S. Institutions Haven’t Sold Any Bitcoin
The U.S. institutions have been buying Bitcoins heavily since the beginning of 2021. While Bitcoin has gone through several cycles of surge and drop, over the last two months. However, Ki-Young Ju presents another interesting piece of data showing that U.S. institutions haven’t sold a dime since December 23. He writes:
“It seems most US institutions haven’t sold any Bitcoin since their OTC deals. For example, here are custody wallets from Coinbase outflows on Dec 23, 2020. No $BTC moved since then. Remember, institutions like @tesla are with us”.
U.S. bulls are buying aggressively in this market and continue with their purchases ahead. Grayscale has added over 50,000 Bitcoins this year for its Bitcoin Trust (GBTC). Another bullish indicator is that the Network Realized Profit or Loss (NPL) for Bitcoin is at its lowest point.
https://twitter.com/santimentfeed/status/1367559646936973316