Bitcoin balances on exchanges just hit a five-year low, reported BTC financial services firm Swan on May 1.<\/p>\n
\u201cStrategy just added 15,000 more BTC, ETFs are stacking, and sovereign wealth is circling,\u201d they observed before asking, \u201cSo why isn\u2019t the price exploding?\u201d<\/p>\n
Bitcoin has encountered resistance at the $95,000 level and has remained in consolidation<\/a> there for the past week.<\/p>\n Swan analysts noted that some BTC is leaving exchanges for cold storage, which is bullish as it signals long-term conviction<\/a>.<\/p>\n However, a large portion is flowing into institutional custody, such as ETFs, fund administrators, and trading infrastructure, they said before adding, \u201cThe coins aren\u2019t gone. They\u2019re just moving upstream.\u201d<\/p>\n Bitcoin balances on exchanges just hit a 5-year low. So why isn\u2019t the price exploding?<\/p>\n Here\u2019s what most people are missing\u2026 pic.twitter.com\/LG4yyex4r4<\/a><\/p>\n \u2014 Swan (@Swan) April 30, 2025<\/a><\/p>\n\n 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.<\/p>\n \u201cBitcoin is still a market, and in markets, sellers never disappear.\u201d<\/p>\n 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.<\/p>\n Commenting on Strategy\u2019s recent accumulation<\/a> of BTC, they said that miners produce around 13,500 BTC per month, \u201cBut Strategy, using cheap debt and relentless capital, has outpaced that production for months,\u201d in a kind of \u201csynthetic halving.\u201d<\/p>\n They\u2019re not just stacking<\/a>, they\u2019re \u201ccompressing Bitcoin\u2019s supply curve from the outside,\u201d the analysts said before concluding:<\/p>\n \u201cSo yes, supply is drying up. But price moves when demand breaks the equilibrium. And with infinite fiat chasing a truly scarce asset, Bitcoin\u2019s next move won\u2019t be linear. It will be violent. And likely irreversible.\u201d<\/p>\n Analyst \u201cRekt Capital\u201d took a stab at Bitcoin\u2019s price discovery roadmap, stating that the asset is trying to finalize its first price discovery correction to transition into its second price uptrend.<\/p>\n #BTC<\/a><\/p>\n Bitcoin Price Discovery Roadmap<\/p>\n Bitcoin is trying to finalise its First Price Discovery Correction (green) to transition into its Second Price Discovery Uptrend (red)<\/p>\n (Prices and time horizons are not to scale)$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> https:\/\/t.co\/yfY3h60Ywy<\/a> pic.twitter.com\/yahXUIpVkY<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) April 30, 2025<\/a><\/p>\n\n Bitcoin fell to an intraday low below $93,400 before recovering to $94,800 during the Thursday morning Asian trading session.<\/p>\n The asset remains tightly range-bound between $93,000 and just over $95,000, however. Nevertheless, it has gained more than 12% over the past month and strongly recovered from an early April dip to $75,000.<\/p>\n \u201cBitcoin is testing key resistance at $93K\u2013$95K, breaking its downtrend and forming a higher high,\u201d reported<\/a> Glassnode, which added, \u201cOn-chain and technical signals show a market at a turning point.\u201d<\/p>\n The post Bitcoin Is Flying Off Exchanges, So Why Isn\u2019t Price Going Up?\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin balances on exchanges just hit a five-year low, reported BTC financial services firm Swan on May 1. \u201cStrategy just added 15,000 more BTC, ETFs are stacking, and sovereign wealth is circling,\u201d they observed before asking, \u201cSo why isn\u2019t the price exploding?\u201d Bitcoin has encountered resistance at the $95,000 level and has remained in consolidation […]<\/p>\n","protected":false},"author":0,"featured_media":63310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-63309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/63309"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63309"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/63309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/63310"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Next Move Won\u2019t Be Linear<\/h2>\n
\nMeanwhile:
\n\u2022MicroStrategy just added 15,000 more BTC
\n\u2022ETFs are stacking
\n\u2022Sovereign wealth is circling<\/p>\nBitcoin Price Outlook<\/h2>\n