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August 05, 2024, 09:20:48 AM |
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My view is and remains that most CEX btc is fractional.
Almost anyone holding since 2011 or 2013, if they were going to sell out, would have sold out since. Leaving the long erm holders in control of most BTC.
[There is only about 3M BTC on all the CEX's anyway]
This leads me to the view that there are no bulk sellers left for years, so exchnages are fractional.
Until Dex's that can prove reserves in real time become the norm and bulk of tradeing, then we will see actual price discovery.
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