The realised gain of bitcoin between entering and exiting exchanges is $78 billion over all time. That is to say, if all the bitcoin ever deposited on exchanges was bought immediately and then only sold when it was withdrawn, the profit from that trade so far would be $78 bn.

5:55 PM · Feb 19, 2021

1
4
0
6
54% of that $78 billion gain has been made in the 15 weeks since the start of November 2020. 25% was made in Q4 of 2017. So we are in the second phase of people rapidly realising large USD gains from bitcoin, and the profits in this phase are twice the size of the last phase.
1
0
1
5
I know I've been quiet on twitter for a bit, I've been deep in the data and this current market. But you can always get my latest insight by signing up to my Market Intel Report: go.chainalysis.com/subscribe…
1
1
0
3