Looking at the changes in BTC net positions on exchanges, while I don’t 100% believe that a large outflow necessarily leads to price pumps, it’s true that when a large number of users buy in, the impact on price is positive. Plus, data from the past year clearly shows that the amount of Bitcoin being bought far exceeds the amount being sold. BTC net position changes on exchanges over the past year On one hand, this indicates that more investors are less focused on short-term price fluctuations and are shifting BTC from short-term investments to mid- to long-term holdings. On the other hand, it also suggests that if this trend continues, the supply on exchanges will keep decreasing, potentially leading to a situation where there’s “not enough to sell.” BTC holdings on exchanges over the past year From the data on BTC supply on exchanges, we can see that a year ago, exchanges held 3.123 million BTC, but today, that number has dropped to 2.93 million. Over the course of a year, there’s been a net outflow of 193,000 BTC. If this trend continues, the BTC supply on exchanges could be completely depleted in less than four cycles. Of course, this is purely theoretical data, but it does show that more and more investors view BTC as a long-term investment and believe its value will be higher in the long run. Especially now, with both U.S. political parties urging the SEC to push forward on allowing 401(K) retirement funds to invest in alternative assets (including cryptocurrencies), we might see this happen as early as 2026. By then, I believe BTC’s supply will deplete even faster, with more long-term investors holding onto it. At least hold 0.1 BTC and leave it untouched—it could bring unimaginable returns in the future. Bitget VIP: lower fees, bigger perks!