π Hello finance enthusiasts and savvy investors!
What a crazy month! There has never been a month in the history of Bitcoin with a higher absolute monthly profit! π€―
I'll keep things brief this week and only touch on one current topic.
The reason for this is that I'm currently chilling in Thailand.
But I still don't want to hide the following two charts from you:
The first chart shows the daily net inflows/outflows into the Bitcoin ETFs.
The second chart shows the total ITC Desk balance of BTC.
The orange line is the OTC desk balance, i.e. BTC that large whales can buy without the market because it changes hands in large quantities without the need for an exchange (OTC = Over The Counter). The black line is the price.
Because the spot ETFs buy up so much BTC and people donβt want to sell their BTC, there is only so much left. Even apart from OTC balances, the amount of BTC changing hands is generally decreasing.
Thatβs why I believe that we will see a supply squeeze in the coming weeks/days as the amount of BTC that is available for sale is decreasing and the amount of newly mined BTC will be halved after the Bitcoin Halving.
Taking these two factors into account and assuming demand remains the same or increases, there will be no Bitcoin to buy, which will drive the price up very quickly.
In any case, I am fully invested, even with partially leveraged positions. The last few weeks have already been incredibly profitable for me and hopefully for most of you, but the next few are likely to be life-changing.
Cheers & have a great week,
Stefan
Co-Founder of CryptoExplorer & InvestmentExplorer (coming soon)
I think new all time high in March