🚀Bitcoin Daily: Supply Shortage meets Filing Surge📈

Summary

The video discusses the current bitcoin market, including increasing institutional adoption and decreasing supply. It analyzes data showing 97% of bitcoin addresses are now profitable, and minor bitcoin reserves are at a 5-year low, indicating strong price appreciation ahead. It also notes Google Trends retail interest is still low, representing future potential upside. Major themes covered include accelerating US debt expansion, bitcoin ETF growth outpacing gold, and miners offloading large portions of newly mined coins, reducing sell-side pressure.

Takeaways

• 😊 97% of Bitcoin addresses are currently in profit
• 🚀 Bitcoin price is hurtling towards its previous all-time high of $69,000
• 💰 Morgan Stanley filing to buy Bitcoin across 12 funds is bullish
• 📈 Bitcoin ETF trading volume jumped to nearly $8 billion recently
• 😮 Bitcoin ETFs are already nearly half the size of the gold ETF
• 😠 Peter Schiff is incorrectly celebrating a 0.5% gain in gold
• ⚠️ US debt is growing by $1 trillion every 90-100 days recently
• 🤔 Retail interest in Bitcoin is still low compared to 2021 peak
• 😀 Despite largest Grayscale dumps ever, Bitcoin price held steady
• 📉 Bitcoin miner reserves are at a 5-year low currently

Q & A

What is the main takeaway from the Bitcoin price not falling despite the large Grayscale dumping?

It shows there is strong demand and buying support for Bitcoin even with large selling pressure. The OTC desks are empty and the live Bitcoin price has held steady, indicating belief that the price will continue rising.

How much Bitcoin have the new ETFs accumulated so far?

The new ETFs have accumulated over 343,000 Bitcoin so far.

Why are people on Twitter saying Bitcoin will crash?

People on Twitter predicting a Bitcoin crash likely don't own any Bitcoin currently. They are hoping for a major dip so they can buy in at a lower price.

What percentage of Bitcoin addresses are currently in profit?

As of the video, 97% of Bitcoin addresses were in profit.

How much Bitcoin are miners selling daily?

Miners are selling 85-90% of the ~900 mined each day, so around 765-810 Bitcoin per day.

How low are miner reserves compared historically?

Bitcoin miner reserves recently hit a 5-year low around 180,000 BTC, down from over 1 million BTC in the past.

When is the next Bitcoin halving expected?

The next Bitcoin halving is estimated to occur on April 18th, 2024, in around 46 days from the video recording.

What is significant about Morgan Stanley filing to buy Bitcoin?

With $8 trillion in assets, Morgan Stanley buying Bitcoin across 12 funds signals major institutional adoption and billions in potential inflows.

Why does the video say now 200k Bitcoin is the new 100k target?

Because experts predict Bitcoin reaching $200k soon given the strong momentum, well above the previous $100k target for 2023.

Who is Mr. 100 that stopped buying Bitcoin?

Mr. 100 is an unknown entity, likely a sovereign wealth fund, that was buying 300 BTC per day since November 2022 until stopping recently.