The post Bitcoin Is Flying Off Exchanges, So Why Isn’t Price Going Up?  appeared on BitcoinEthereumNews.com.

Bitcoin balances on exchanges just hit a five-year low, reported BTC financial services firm Swan on May 1. “Strategy just added 15,000 more BTC, ETFs are stacking, and sovereign wealth is circling,” they observed before asking, “So why isn’t the price exploding?” Bitcoin has encountered resistance at the $95,000 level and has remained in consolidation there for the past week. Next Move Won’t Be Linear Swan analysts noted that some BTC is leaving exchanges for cold storage, which is bullish as it signals long-term conviction. However, a large portion is flowing into institutional custody, such as ETFs, fund administrators, and trading infrastructure, they said before adding, “The coins aren’t gone. They’re just moving upstream.” Bitcoin balances on exchanges just hit a 5-year low.Meanwhile:•MicroStrategy just added 15,000 more BTC•ETFs are stacking•Sovereign wealth is circling So why isn’t the price exploding? Here’s what most people are missing… pic.twitter.com/LG4yyex4r4 — Swan (@Swan) April 30, 2025 Additionally, not all of this Bitcoin is idle, with some held passively, and some is active in structured products, yield platforms, or as collateral, which is why prices are not increasing immediately. “Bitcoin is still a market, and in markets, sellers never disappear.” Some are traders looking for short-term gains, some are long-term holders shaving off profits, and some are speculators who never understood what they bought, they said. Commenting on Strategy’s recent accumulation of BTC, they said that miners produce around 13,500 BTC per month, “But Strategy, using cheap debt and relentless capital, has outpaced that production for months,” in a kind of “synthetic halving.” They’re not just stacking, they’re “compressing Bitcoin’s supply curve from the outside,” the analysts said before concluding: “So yes, supply is drying up. But price moves when demand breaks the equilibrium. And with infinite fiat chasing a truly scarce asset, Bitcoin’s next…

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Filed under: News - @ May 1, 2025 5:26 am