Recent data indicates a rise in Bitcoin dominance on American exchanges with a shift of interest from global platforms to US-based ones. Let’s explore what occurred during similar trends in the past.<\/p>\n
In a recent post on X, Ki Young Ju, the founder of CryptoQuant, highlighted a developing trend in a Bitcoin indicator. The metric compares the BTC reserves held by US-based platforms to those held by off-shore platforms.<\/p>\n
These “platforms” not only include exchanges but also recently approved spot exchange-traded funds (ETFs) operating in the US since January.<\/p>\n
An increasing ratio signifies a growth in reserves on US platforms compared to off-shore ones, indicating a shift in interest. Conversely, a declining ratio suggests a movement of cryptocurrency from US exchanges and spot ETFs to foreign platforms.<\/p>\n
A decade-long trend graph of this Bitcoin indicator shows a significant recent increase in the value, suggesting reduced dominance of off-shore platforms. The rise is likely influenced by the growing popularity of US spot ETFs.<\/p>\n
Similar patterns in the past, notably before the 2021 and 2017 bull runs, show that bullish periods align with increased interest in American platforms over global exchanges.<\/p>\n
The repeating pattern in the ratio indicates a potential upcoming major bull run for Bitcoin, subject to observation for confirmation.<\/p>\n
In derivative market news, a substantial number of long investors faced liquidation within 24 hours as Bitcoin and other cryptocurrencies experienced drawdowns.<\/p>\n
Bitcoin briefly dipped below $66,000 before slightly rebounding to $66,600 post the recent plunge.<\/p>\n","protected":false},"excerpt":{"rendered":"
Recent data indicates a rise in Bitcoin dominance on American exchanges with a shift of interest from global platforms to US-based ones. Let’s explore what occurred during similar trends in the past. Shift from Global to US Platforms In a recent post on X, Ki Young Ju, the founder of CryptoQuant, highlighted a developing trend […]<\/p>\n","protected":false},"author":1,"featured_media":16551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Recent Increase in Bitcoin Flow to US Platforms and Historical Trends - Bitrabo","description":"Recent data indicates a rise in Bitcoin dominance on American exchanges with a shift of interest from global platforms to US-based ones. Let's explore what occu"},"footnotes":""},"categories":[316],"tags":[448,3221,3315,682,5565,2053,1089,6703],"class_list":["post-16550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-flowing","tag-happened","tag-heres","tag-last-time","tag-platforms","tag-time","tag-us-platforms"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=16550"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/16551"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=16550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=16550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=16550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}