Bitcoin (BTC<\/a>) is in an accumulation phase, according to the chief executive of CryptoQuant.<\/p>\n Ki Young Ju tells<\/a> his 356,900 followers on the social media platform X that 358,000 BTC moved to permanent holder addresses in the past month.<\/p>\n The CEO notes global spot exchange-traded (ETF) inflows in July were only 53,000 BTC.<\/p>\n \u201cThough not all remaining BTC is in custody wallets, whales are clearly accumulating. And it\u2019s an unprecedented level.<\/em><\/p>\n The recent Bitcoin inflows to permanent holder addresses are not due to ETF wallets. These wallets are neither exchange nor miner wallets and have no outflows; they are mostly custodial wallets.\u201d<\/em><\/p>\n Young Ju also details<\/a> what he looks for as signs of the early stages of a transition between an accumulation environment and a distributive one.<\/p>\n \u201cTo gauge retail distribution on-chain, I use indicators capturing the increase in realized cap within a month. If there are low inflows to accumulation addresses and a high realized cap for under a month, driven by retail activities like deposits to exchanges, I would say it\u2019s a distributive environment.\u201d<\/em><\/p>\n The realized cap metric records the price of each Bitcoin when it last moved and aims to gauge how many holders are in profit or at a loss.<\/p>\n BTC is trading at $65,720 at time of writing.<\/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":" Bitcoin (BTC) is in an accumulation phase, according to the chief executive of CryptoQuant. Ki Young Ju tells his 356,900 followers on the social media platform X that 358,000 BTC moved to permanent holder addresses in the past month. The CEO notes global spot exchange-traded (ETF) inflows in July were only 53,000 BTC. \u201cThough not […]<\/p>\n","protected":false},"author":2,"featured_media":353049,"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-353044","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\/353044","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=353044"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/353044\/revisions"}],"predecessor-version":[{"id":353055,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/353044\/revisions\/353055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/353049"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=353044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=353044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=353044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2024\/07\/cryptoquantetf.jpeg?w=1024\")
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