Quick take from the large-trade perspective:
“Data: Strategy has $6.536 billion in unrealized gains, while Bitmine’s unrealized losses have narrowed to $4.781 billion.”
Institutional investors are reducing their holdings, and these assets will return to the market, increasing short-term supply.
$BTC 24h turnover was $984 million. Watch for any subsequent moves in the same direction.
“Data: Strategy has $6.536 billion in unrealized gains, while Bitmine’s unrealized losses have narrowed to $4.781 billion.”
Institutional investors are reducing their holdings, and these assets will return to the market, increasing short-term supply.
$BTC 24h turnover was $984 million. Watch for any subsequent moves in the same direction.