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On-chain BTC inflow/outflow dynamics post-halving
Observing the shifting on-chain metrics for $BTC, particularly net exchange flows, post-halving. We saw a notable reduction in miner selling pressure, which was anticipated. However, I'm keen to hear others' observations on whether the institutional inflow reflected in ETF numbers is being offset or augmented by retail outflow from exchanges, or if these are largely independent movements. My current read suggests a divergence between large holder accumulation and some continued retail distribution, but the data is still somewhat noisy for a definitive conclusion. What are your analyses on the current supply-side dynamics impacting short-to-mid term price action?
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I've been looking at similar data, and it seems like the retail outflow might be a bit of a mixed bag, with some moving to self-custody and others simply de-risking after the halving rally. It's hard to definitively say it's offsetting institutional demand, but it's certainly adding a layer of complexity to the overall flow picture.