Ah, the grand ballet of Bitcoin, pirouetting under the watchful gaze of Coinbase’s aquatic leviathans! According to the illustrious Ki Young Ju, the CEO of CryptoQuant, these whales are not merely frolicking; they are orchestrating a symphony of price action that would make even the most stoic of investors weep with joy—or perhaps despair. 🎭
In a rather enlightening post on X, dated February 26, Ju elucidated that Coinbase’s spot volume dominance has surged above the 30% mark in the past week. One can only imagine the whales, with their grandiose flippers, splashing about, causing ripples in the vast ocean of cryptocurrency. 🐳
Yet, amidst this aquatic frenzy, the Coinbase BTC premium—a rather curious creature that tracks the price disparity between Bitcoin on Coinbase and its less glamorous counterparts like Binance—remains in the negative. This curious phenomenon suggests that our dear U.S. investors, particularly the institutional ones, are not just spectators but rather the puppeteers of this bull market, as well as the recent correction. 🎪
Coinbase whale(s) are driving BTC price action. Spot volume dominance +30% in 7 days, CB premium negative.
— Ki Young Ju (@ki_young_ju) February 26, 2025
Coinciding with these aquatic antics, the spot Bitcoin ETFs have experienced their largest single-day outflow since their inception, with a staggering $937.78 million swimming away on February 25, according to the ever-watchful SoSoValue data. This figure, a veritable tidal wave, far eclipses the previous record of $680 million in outflows on December 19, 2024, signaling a veritable storm of selling pressure from institutional investors. 🌊
Meanwhile, a report from 10x Research on February 25 revealed a rather disheartening statistic: only 44% of U.S. Bitcoin ETF inflows are for long-term holding. The rest? Likely tied to the whimsical dance of arbitrage strategies. One might ponder whether the actual long-term demand for Bitcoin as a prized asset in multi-asset portfolios is as inflated as the media narratives would have us believe. 🎈
#Bitcoin & @MicroStrategy: The New Favorite Assets for Hedge Funds@BlackRock IBIT, MicroStrategy – what we know …
👇1-21) Although Bitcoin ETFs have attracted $38.6 billion in net inflows since their January 2024 launch, our analysis suggests that only $17.5 billion (44%)…
— 10x Research (@10x_Research) February 23, 2025
As the market pulls back, one cannot ignore the macroeconomic tempest brewing on the horizon. Former U.S. President Donald Trump’s proposed 25% tariffs on Canadian and Mexican imports are set to take effect in March, igniting fears of inflation that could make even the most stoic of economists break into a cold sweat. ❄️
Yet, despite this correction, our dear CryptoQuant CEO remains steadfastly bullish in the long term. In a post dated February 19, he argued that Bitcoin’s bull cycle is still very much alive, noting that past cycles have seen price drops of up to 30% from all-time highs without signaling the dreaded bear market. So, fear not, dear investors; the dance continues! 💃
Read More
- Fortress Saga tier list – Ranking every hero
- Cookie Run Kingdom Town Square Vault password
- Glenn Greenwald Sex Tape Leak: Journalist Cites “Maliciously Political” Motives
- Mini Heroes Magic Throne tier list
- Grimguard Tactics tier list – Ranking the main classes
- How to Prepare and Dominate the Awakened Hollyberry Cookie Update
- Overwatch Stadium Tier List: All Heroes Ranked
- Hero Tale best builds – One for melee, one for ranged characters
- Castle Duels tier list – Best Legendary and Epic cards
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
2025-02-26 11:27