Thursday, Feb 15, 2024
BTC's supply/demand, the recession drumbeat, the documented erosion of trust
“When you want to know how things really work, study them when they're coming apart.” – William Gibson ||
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IN THIS NEWSLETTER
The BTC supply/demand imbalance
What recession? Oh, that recession…
The documented erosion of trust
WHAT I’M WATCHING
The BTC supply/demand imbalance
Since their launch, the spot BTC ETFs have seen an average daily net inflow of almost 3,500 BTC. As the GBTC redemptions fade, this number is increasing, and over the past four days has averaged just over 10,000 BTC.
(table of ETF inflows in BTC terms, via @BitMEXResearch)
Meanwhile, the number of new BTC entering the market every day is just 900.
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