Ignore The Trump–Musk Noise: Bitcoin’s Backbone Stays Solid
Bitcoin's value experienced a sharp decline following public comments between US President Donald Trump and Elon Musk, raising concerns about its upward momentum. Centralized exchange reserves of Bitcoin decreased by nearly 3%, from 2,435,600 BTC to 2,365,400 BTC, indicating a trend of holders moving coins to private wallets, which could tighten supply and support price recovery. Bitcoin's Realized Capitalization reached a record high of $935 billion, reflecting ongoing investment from both small traders and large institutions. The netflow of Bitcoin has been negative, with more withdrawals than deposits, suggesting that holders are not inclined to sell. Increased activity across various coin-age groups indicates diverse investor engagement. Despite potential short-term price fluctuations, these on-chain signals suggest strong underlying support for Bitcoin's long-term value.
