10x Research posted on social media that more and more people believe that Bitcoin has a tight supply situation, especially with the continuous accumulation of Bitcoin ETFs and MicroStrategy, the available supply of Bitcoin is reduced, creating a potential "squeeze" "pressure" market has laid the foundation. Over the past 30 days, the centralized exchange recorded a net outflow of 124,000 Bitcoins. Coinbase, which holds the largest Bitcoin reserves, saw an outflow of 72,000 Bitcoins, accounting for nearly 10% of its total balance. Binance experienced an outflow of 29,000 Bitcoins, leaving 570,000 remaining. Other major trading platforms such as Gemini, OKX, and Kraken have also experienced significant outflows, with Kraken’s outflows accounting for approximately 7-8% of its holdings.
If these trends continue and demand remains strong, the market could face severe Bitcoin supply constraints. The introduction of options on Bitcoin ETFs in particular could further exacerbate this situation, triggering additional gamma squeezes and amplifying upward price momentum.