The cryptocurrency is relatively insensitive to macroeconomic conditions.
If the market is more influenced by the overflow of the US dollar liquidity, the funds that entered the market in 2020-2021 would have purchased a large amount of BTC and withdrawn from the exchanges. In 2022, these BTCs should have been deposit back to the exchanges and sold for US dollars to exit the market.
However, data shows that the BTC balance in exchanges did not see a significant increase in 2022, but instead a slight decline, indicating that more funds continued to flow in and chose to store value in BTC. Starting from 2023 and until now, the trend of a straight-line decline in BTC holdings has re-emerged and even more funds are flooding in. #bitcoin
FVyJEqMn9kS68lvciM83 / nakamon
npub1u4…e37j5
2023-02-16 08:57:14
Author Public Key
npub1u49c78pu3cyc83kg04gzwnnanp89fewpleug9hta8qmup0jlzr6qee37j5Seen on
wss://nos.lolPublished at
2023-02-16 08:57:14Event JSON
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"pubkey": "e54b8f1c3c8e0983c6c87d50274e7d984e54e5c1fe7882dd7d3837c0be5f10f4",
"created_at": 1676537834,
"kind": 1,
"tags": [
[
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"content": "The cryptocurrency is relatively insensitive to macroeconomic conditions. \n\nIf the market is more influenced by the overflow of the US dollar liquidity, the funds that entered the market in 2020-2021 would have purchased a large amount of BTC and withdrawn from the exchanges. In 2022, these BTCs should have been deposit back to the exchanges and sold for US dollars to exit the market. \n\nHowever, data shows that the BTC balance in exchanges did not see a significant increase in 2022, but instead a slight decline, indicating that more funds continued to flow in and chose to store value in BTC. Starting from 2023 and until now, the trend of a straight-line decline in BTC holdings has re-emerged and even more funds are flooding in. #bitcoin",
"sig": "3cd8a0ac8c2d2597c29ccaf48f69644b8079611bbd136b26be842c9bfacf84202f5be56d6e024afc0f22ea2df7e9d83be57e59968f0623391dafa191681c2e64"
}