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08 March 2021

Bitcoin's Liquidity Crisis Leads to Another Demand-Driven Record High

Bitcoin's Liquidity Crisis Leads to Another Demand-Driven Record High


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On Friday, traders once again raised their bids for the world’s leading cryptocurrency, sending its prices to another record peak after Grayscale Investments, a New York-based crypto investment vehicle, added 1,672 BTC to its already-ballooning bitcoin stockpile.

In a note published Thursday, analyst Ben Lilly highlighted that bitcoin investment made by Grayscale, Tesla, MicroStrategy, Ruffer Investments, Square, Bitwise, and other firms sucked more of the cryptocurrency out of supply than produced.

The CEO of CryptoQuant—a South Korea-based blockchain analysis firm, noted that the latest Bitcoin bull run appeared despite a negative Coinbase premium.

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