Since Donald Trump's win, CryptoQuant data shows investors have withdrawn over 171,000 Bitcoin from prominent crypto exchanges. Holders frequently have a long-term investment intention since mass withdrawals reduce sell-off supply.
Data indicated massive Bitcoin exchange outflows following Trump's election, dating back to 2021. Bitcoin exchange reserves have consistently declined since crypto's top, indicating persistent conviction in BTC despite 2022 and 2023 market declines.
By October 2021, exchange holdings reached 3.2 million BTC. At press time, CryptoQuant reported 2.46 million tokens. CryptoQuant and Glassnode both reported an increase in short-term dormant BTC. The platform's illiquid supply statistic, which monitors long-term investor holdings, rose 185,000 Bitcoin in 30 days.
Almost 75% of BTC's supply—14.8 million coins—has remained dormant since early November. As Trump adopts crypto-friendly legislation and BTC acceptance rises, this trend may continue till 2025.
The leading cryptocurrency reached $99,600 weeks after Trump's victory. South Korean political unrest and profit rotation into cryptocurrencies like Ripple slowed Bitcoin and the digital asset market on Dec. 3.
Researchers like Fundstrat Capital CIO Thomas Lee see a supply shock and a climb exceeding $100,000 by 2024.
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