Everyone thinks bitcoin's supply is fully mapped so you always know who holds what, but actually more than half of all $BTC sits in addresses with no public owner.

that unknown chunk is how people get run over. a fat wallet moves, someone names a whale or an exchange, and you either panic out or fomo back in based on an identity that was never verified.

ngl the ledger is great at showing transactions and balances. it is not great at telling you the person or the firm behind them. more than 50% of existing supply has never been publicly tied to anyone, so a chunk of what looks like known flow is just an unlabeled address.

some of those wallets are early adopters, some are companies, some are probably exchanges that never got a clean public tag. treat that as the case, not a conspiracy. if you size entries and exits on $BTC off a label you can't check, you're trading a story, and the same habit shows up when people read unlabeled $ETH moves like they're signed bids.

anyone else still leaning on wallet identities for this, or did you stop once the ownership trail went dark?
#Bitcoin #OnChain #BTC