The US and Japan's interest rate hikes did not lead to panic selling by bitcoin:native investors

I have been monitoring Bitcoin's data during the interest rate hikes by the Federal Reserve and Japan, especially to see if there would be data indicating panic selling. So far, even on the day of the meeting or during the week leading up to the interest rate hike, or even one to two weeks in advance, there has been no significant data showing a large amount of bitcoin:native being transferred to exchanges.

This data is quite important because, even though DEX has become quite mature now, if spot selling occurs, aside from large institutions' OTC, it is still mostly executed through exchanges. Therefore, the data on transfers to exchanges can reflect investors' sentiments, especially retail investors, regarding whether they are worried about the Federal Reserve and Japan's interest rate hikes.

In practice, although the inflow from Tuesday to Friday this week was slightly higher compared to the previous two weeks, it is still at a relatively low level in the annual transfer data. This indicates that while some investors may be concerned about interest rate hikes, the majority of holders are not overly worried, which is one of the reasons why Bitcoin's price remains relatively stable.

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