BTC selling volumes generated by nation states are a drop in the ocean this bull market, argues CryptoQuant's Ki Young Ju. on July 5, Ki Young Ju, founder and CEO of on-chain analytics platform CryptoQuant, played down the significance of recent state offloading.Bitcoin being sold by governments around the world is minimal compared to overall inflows to the space, Ki Young Ju argues.
In contrast to the nearly $250 billion of inflows since the latest bull market began, funds that could technically end up for sale by governments total less than $10 billion.“$224B has flowed into this market since 2023. Government-seized BTC contributes about $9B to the realized cap.
The two actors on the radar are Germany and the United States, with the former still holding 41,200 BTC seized from various bad actors over the years, per“It's only 4% of the total cumulative realized value since 2023,” he reasoned.is among those closest to spot price, with calculations also seeing the chance of a return to $45,000 to bring the latest drawdown in line with historical norms.
BTC/USD hit four-month lows of $53,500 on July 5, trading around $3,000 higher at the time of writing a day later, per data fromThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.‘Raider’ investors are looting DAOs — Nouns and Aragon share lessons learned