🧮 Two supply forces, in the same unit (BTC):
1️⃣ Short-term holders → exchanges: 47K BTC (at a loss — yesterday’s report)
2️⃣ Bitcoin ETF November outflows: ~1.58B ≈ 21K BTC equivalent (at a price of 73.9K)
Meaning: retail-side STH pressure is currently ~2x greater than the institutional-side bleed. 🔍
This comparison is only useful when both numbers are fresh — and they both are right now. That’s the real supply math: who’s moving how much, and at what rate. Side by side on the chart. 📐
$BTC
#OnChain #BitcoinETF #DataLiteracy
1️⃣ Short-term holders → exchanges: 47K BTC (at a loss — yesterday’s report)
2️⃣ Bitcoin ETF November outflows: ~1.58B ≈ 21K BTC equivalent (at a price of 73.9K)
Meaning: retail-side STH pressure is currently ~2x greater than the institutional-side bleed. 🔍
This comparison is only useful when both numbers are fresh — and they both are right now. That’s the real supply math: who’s moving how much, and at what rate. Side by side on the chart. 📐
$BTC
#OnChain #BitcoinETF #DataLiteracy
