Bitcoin whales absorb 300% of newly mined BTC supply -- Is $100K next?

Bitcoin’s (BTC) richest traders and investors are increasingly bullish on BTC despite facing downside risks from unfavorable macroeconomic factors, the latest onchain data suggests. Bitcoin whales absorbing 300% of new supply Bitcoin whales and sharks are now absorbing BTC at record rates—over 300% of yearly issuance—while exchanges are losing coins at a historic pace, according to Glassnode. Notably, Bitcoin’s yearly absorption rate by exchanges has plunged below -200% as outflows conti...