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⛓️ Crypto⚪ NeutralImportance 6/10
Bitcoin Miner Supply Shock Hasn’t Arrived Yet, New Data Suggests
🤖AI Summary
New data suggests Bitcoin miners still hold meaningful OTC reserves despite tighter supply conditions than past cycles, while exchange-directed selling pressure remains elevated. Miners currently hold ~152.6K BTC in OTC balances, down from 595K BTC peak in 2018, but not yet indicating a complete supply shock.
Key Takeaways
- →Miner exchange inflows remain elevated after Halving #4, indicating continued selling pressure on exchanges
- →OTC miner balances at 152.6K BTC are near historical lows but still represent significant supply reserves
- →The supply situation is tighter than previous cycles but hasn't reached true scarcity levels
- →Recent moderation in exchange inflows appears to be a pause rather than a confirmed downward trend
- →Market faces mixed signals with limited OTC overhang but persistent tactical selling pressure
Read Original →via NewsBTC
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