U.S. Bitcoin Holdings on the Rise Amid ETF Demand – CryptoQuant

Ki Yong Ju, CEO of market analytics company CryptoQuant, recently highlighted that the US is regaining its dominant position in terms of Bitcoin (BTC) holdings.

In a post on Platform X, Zhu noted that the U.S.’s share of Bitcoin holdings is increasing compared to other countries due to the interest in ETFs from high-profile individuals.

The 🇺🇸U.S. is regaining dominance in #Bitcoin holdings. Its ratio compared to other countries is rising, driven by spot ETF demand. Only known entities are included. pic.twitter.com/a9XOb5134E

— Ki Young Ju (@ki_young_ju) September 26, 2024

Ju also pointed out that Bitcoin has effectively gone through significant FUD (fear, uncertainty and doubt) in 2023. Despite the sell-off concerns related to Mt. Gox and German BTC holdings, Bitcoin appears to have remained stable, with minimal impact on the market as expected from the data.

According to him, the early release of former Binance CEO Changpen Zhao from prison is creating a bullish sentiment in the market. He speculates that Zhao’s return could potentially spark a market-wide rally, especially if he publicly signals his return to the crypto space.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.