Bitcoin re-entering exchanges, Whales dumping Bitcoin due to PCE data

Definition

Illiquid supply is defined as the total supply held by illiquid entities, while supply change is a monthly (30d) net change of supply held by illiquid entities.

Quick Take

• Illiquid supply change has gone negative for the first time since September 2022 — assuming that coins are returning to exchanges.
• Each time coins go back onto exchanges; it has a somewhat correlation with the price of Bitcoin descending.
• The FTX collapse saw over 200k Bitcoin go onto exchanges over 30 days. The highest amount for over five years.
• However, this trend is decreasing as profits are starting to be realized. 
• While whales dumped roughly $100 million on Feb. 24 due to the PCE data coming in hotter than expected.

The post Bitcoin re-entering exchanges, Whales dumping Bitcoin due to PCE data appeared first on CryptoSlate.