Bitcoin Has NEVER Seen This Before
By Bravos Digital Assets
Here’s what others had to say:
@willnadamusic
Maybe it’s because retail believes it’s now too expensive and they’re looking for the new btc in alts. I can see how 100k+ btc can be overwhelming for the average American who have never even had or made that amount in their entire lives.
@Sat-Guru-1
This is what happens when retail investors are replaced by institutions not rocket science.
@RobertSela
It sadly means that billion dollar companies and institutions are buying up more and more bitcoin, and less of it remains with the community by the day. Many private investors sell out now after many years and cash in the profit, and with prices surging, less people can afford to get into Bitcoin – thus less wallets are created.
@giancarlogodz2140
Most are usually on BTC ETFs, they do not hold the actual coin on their wallets.
@the_proposition
I think the last two years of decline in Bitcoin addresses is because it’s not been retail buying all the suply, it’s wallstreet. They don’t need millions of addresses.
I think that wallstreet stopped the dip in price after the dip in new wallets. They baught up all the coins.
I think that little up kick at the end of the declining wallet line is the start of the next retail bull run. There aren’t really any kicks in previous cycles.
@sylvainguinepain5624
Institutions are cornering the market. What happens when they own it all? They can increase the price by simply selling and buying between each other but truly it is worthless if no one else has any interest in it. It all leads to a giant bubble.
@dt_lit
BTC is another substitute and/or complimentary to gold as an inflation gauge, if gold and btc going up, we probably can confirm inflation is going up.
@damanis9456
Institutions and small companies are the new retail. Old retail is waiting for alt season as they think bitcoin is too expensive. IMHO
@WeebMaximus
Bigger price is because Institutions.
Less wallets means bigger players and exchanges holdings. People started to use exchanges as banks.
@MrEasterrabbit
BTC has to be spend, given, earned. If whales hord bitcoin this is not what Satoshi Nakamoto wanted. Be aware that his BTC throwed at the market is the biggest rugpull ever
@therealpg777
We are NOT a retail market at this point, so we dont need more wallets to mkae number go up… we buy more than mined daily, math that… also, think of all the holders who sold and boguht the ETF… nothign to worry about.
@KingsRight
It means the fish are losing interest and letting the institutions be the bag holders.
And the institutions are lagging behind at following what the fish are doing.. once they realize the fish aren’t interested any more then the institutions will say “oh crap! we better dump this garbage fast”
@jsmdify
This is almost certainly because of the ETF. Multiple ETF’s. You have someone as well known and followed as Plan B who sold all his Bitcoin and put the money in a Bitcoin ETF. He did so because he lives in a countries where the sale of Bitcoin is not taxed automatically so he could just role it over. Price will continue to clime because of larger players buying Bitcoin and more people entering BTC through the ETF’s.
@sisco302
Bitcoin and the number of people buying Bitcoin continues to increase. So does the institutions investing large amounts of capital. Don’t become envious or jealous of institutions buying and holding large amounts of Bitcoin. Institutional adoption adds legitimacy to Bitcoin and increases its value. Each one of us continue to have the opportunity to buy and hold Bitcoin. No one is boxing you out of the market. Bitcoin will continue to be traded on a daily basis. And mining will continue to create new Bitcoin until at least 2040. Don’t get caught up in fear of missing out.
@invalidusertoken7152
Its good and sad at the same time, basically BTC was made to be self custodial but institutions and having an ETF managed to find a way for them to get hold of your money. sad.. but this is a cold dark world.
@donaldoarmand212
The network effect of Ethereum utterly eclipses bitcoin. The permissionless development on ETH is unsurpassed. Love solana and other smart contract platforms but Ethereum is more decentralized than all of them.
@bumpyjason
Imagine when mass adoption actually happens, even though it’s free falling, I’ve noticed that skepticism is almost gone compared to a couple of years ago, I just don’t think they have the money to invest right now for lots of reasons.
@plumrambo6969
Maybe its a mega bullish divergence and the amount off wallets is about to explode and bitcoin will go interstellar this time like we have never seen before.
@michaelsmith953
Bitcoin is so shit. This just proves how awful it is to actually use bitcoin. Ethereum is actually usable but bitcoin is just something people buy on exchanges hoping the price goes up
@jaredkaiser1793
Interesting that this cycle’s peak happened right on the launch of the ETF… probably not the greatest thing long term but I think this cycle has a bit left in the tank.
Original source: https://www.youtube.com/watch?v=xUdyRIJhI0E
