Investors from the traditional finance sector are gobbling up Bitcoin (BTC<\/a>) at \u201cunprecedented\u201d levels, according to the co-founder and chief executive of analytics platform CryptoQuant.<\/p>\n Ki Young Ju tells<\/a> his 335,600 followers on the social media platform X that traditional finance investors are dollar-cost averaging 6,896 BTC per day.<\/p>\n \u201cThey accumulated 103,726 BTC over the past 7 days. It\u2019s an unprecedented level of accumulation.<\/em><\/p>\n This accumulation address cohort doesn\u2019t have any outflows. When it shows any outflows, the cohort excludes that address.\u201d<\/em><\/p>\n Young Ju also predicts<\/a> that Bitcoin will see a sell-side liquidity crisis this year.<\/p>\n \u201cFresh capital from spot exchange-traded funds (ETFs) has seen a 95% month-on-month [increase], excluding Grayscale Bitcoin Trust (GBTC). At this rate, holdings could surpass a couple of million BTC this year.<\/em><\/p>\n Exchanges, miners, and their affiliated addresses hold 3 million BTC.\u201d<\/em><\/p>\n Of the 10 new ETFs, Grayscale\u2019s is the only one that isn\u2019t an entirely new product: After the U.S. Securities and Exchange Commission (SEC) issued a flurry of BTC ETF approvals in January, the crypto-focused asset management giant\u00a0converted<\/a>\u00a0its existing flagship product, the Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund listed on the exchange NYSE Arca.<\/p>\n Bitcoin is trading at $66,241 at time of writing. The top-ranked crypto asset by market cap is up nearly 4% in the past 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Investors from the traditional finance sector are gobbling up Bitcoin (BTC) at \u201cunprecedented\u201d levels, according to the co-founder and chief executive of analytics platform CryptoQuant. Ki Young Ju tells his 335,600 followers on the social media platform X that traditional finance investors are dollar-cost averaging 6,896 BTC per day. \u201cThey accumulated 103,726 BTC over the […]<\/p>\n","protected":false},"author":2,"featured_media":261074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-261073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/261073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=261073"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/261073\/revisions"}],"predecessor-version":[{"id":261076,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/261073\/revisions\/261076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/261074"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=261073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=261073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=261073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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