Fiat keeps flooding in to exchanges

Bitcoins keep flooding out of exchanges

There has been no big change in this behaviour for 2 months now

The result can not come as a shock, nor is rocket science

You see, these blockchains are quite transparent

Just to get an idea, you're better off tracking it more precisely, but the last 48 hours from whale alert

It's like BRR BRR in Treasury, vroem vroem to escrow account or whatever it is called, mwaap mwaap to exchange and then caching caching bought BTC and to cold storage

USDT supply was around 4.4 billion USD back in Feb

Now 8.6 billion

I tracked some of that growth in a thread for some time now, it does amuse me seeing that number go up every week https://twitter.com/BTC_JackSparrow/status/1245696092521594881?s=20

And, clearly, this influx in supply (read: demand) has had a positive correlation to price in the past

The causality is pretty straight forward, not proven, but obvious enough that you need some tin foil hat to argue otherwise https://twitter.com/BTC_JackSparrow/status/1247824217489526784?s=20

Once you add that we argued, based on data, early on, that inflation could drive demand in $BTC and we now have institutional figures who were in fact buying...

It should not be taken lightly that $BTC shows strength in times it was designed for https://twitter.com/BTC_JackSparrow/status/1242110810249408514?s=20

Bitcoin has reached a phase of maturity we were calling and hoping for during the 2017 top and subsequent consolidation

The "herd is coming" and "institutional buyers are ready" memes are now showing signs of reality

This is history being written