Traditional finance investors are buying up Bitcoin (BTC) at record levels, according to Ki Young Ju, co-founder of CryptoQuant.
Massive Accumulation
Ju reports that TradFi investors are dollar-cost averaging 6,896 BTC per day, amassing over 100,000 BTC in the past week. This accumulation is unprecedented, with no signs of outflows.
Sell-Side Liquidity Crisis Predicted
Ju also predicts a sell-side liquidity crisis for Bitcoin this year due to the influx of fresh capital from spot exchange-traded funds (ETFs). He estimates that ETF holdings could exceed 2 million BTC by year’s end.
Exchange Holdings
Exchanges, miners, and their affiliates currently hold around 3 million BTC.
Market Performance
At the time of writing, Bitcoin is trading at $66,241, up nearly 4% in the past 24 hours.
