BREAKING; #Bitcoin exchange balances have plunged to just 1.8 million BTC, the lowest level since 2017 and the largest single drop ever recorded.
THAT‘S INSANE.
SUPPLY SHOCK INCOMING.
NO ONE IS PREPARED.
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Replies (32)
Sauce
🔥🔥🔥
FAKE NEWS
Can’t believe I have to fact check this bullshit, checked just now it virtually unchanged 2.1M still on exchanges
I was also doubtful when I saw this post. Thanks for fact checking. @Carl B Menger please do better
FAKE BULLISH NEWS
AKA
BULL TRAP
THEY WANT YOUR LIQUIDITY TO DUMP AGAIN
No bro, it's real this time bro. Supply shock imminent bro
I’ve seen some other fake bullish indicators on here. Don’t remember who posted but since I follow indicators I was able to check quickly to see they were fake.
Why are people faking bullish indicators that’s what people need to ask themselves… therein lies the answe
NO ONE IS READY!!! 🚀
Rocket ship!
Get on board!
1.8 million BTC is still a lot, much more to go down with before supply shock.
Explain yourself Carl!
Trust me bro
If you go to the website (cryptoquant) he screenshot that’s the chart you see. It’s also on a website called MacroMicro. But as someone pointed out in another thread it appears to be an issue with Coinbase reporting.
Carry on with your bearish faggotry though
Seriously? Fake click bait?
lol I’m not bearish Bitcoin is
I was hoping it was an honest mistake
Sorry guys, seems that this is due to Coinbase rebalancing.
It was. And I am sorry.
That’s why I asked for an explanation! All good brother
Coins on Exchange is (almost) a nonsense metric, I hear about supply squeeze since I heard about bitcoin.
Onchain analysis can't know which addresses are held by Exchange, they can just guess.
Many Exchanges or similar like Revolut or RobinHood, noKyc ones, aren't counted at all in any metrics.
Exchange would very likely use complex wallet structures in order to make harder to track in aggregate metrics and people on Glassnode always says this.
SUPPLY SQUEEZE THAT CREATES INSTANT OMEGA GREEN DILDO CANDLE IS HOPIUM.. sorry to break your dreams.
View quoted note →
Carl is a genuine Bitcoin Bull. ❤️
Yea he explained himself and I believe him. No issue with him
As long as there no printing of the fiat, what does it even matter if there's a supply squeeze? I get it, if you're talking about active trading, but otherwise, as just a means of exchange, do we really care? Prices'll just adjust per supply/demand. Or am I missing something?
Exactly, you aren't missing anything.. a supply squeeze doesn't make much sense, unless big institution start naked shorting BTC without spot bacukup, but even then, demand will raise, price will go up, and coins will come back from cold storage to exchanges.
No problem, love what you do. 👍🫂
Last name is not Menger is Monger !
One question. Haven't tried to see the data, is this because more is ending up in custody, etf, etc?
Naked shorting... Oh my!!! I wonder which companies would get behind that?!? Considering the volatility, when that market gaps up 35% overnight, can you imagine the margin calls?!? OMG.. Firms disappear from the planet being on the wrong side of those trades.. Better hope your office is on the first floor. Jumping out the window won't kill you.