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BTC On-Chain Analysis: Exchange Balances Dry Up as Institutional Investment Picks Up

2 mins
Updated by Ryan James

In Brief

  • The exchange net position change has been negative since June 27.
  • The Purpose Bitcoin ETF holdings reached a new all-time high in July.
  • The futures funding rate is close to zero.
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To the contrary, the two most well-known exchange-traded funds, Grayscale and “The Purpose Bitcoin ETF” have been consistently increasing since March, meaning that institutions are “buying the dip.”

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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.