FORGET THE PRICE: The BIGGEST Bitcoin SUPPLY SHOCK IS HAPPENING NOW!!! | EP 1600

Luke (0:01)

So, the biggest Bitcoin supply shock in history just started, and absolutely nobody even noticed. In the past seven days alone, we have seen 25,000 Bitcoin leave Binance. Again, this is the biggest Bitcoin exchange in the world. When 25,000 coins move, you need to be paying attention. And also this week, we've seen the big money, the whales, the smart money, they have bought around $2.2 billion of Bitcoin through the ETFs. You can see the spike on this chart, and this again amounts to somewhere around 25,000 Bitcoin going into the ETFs. So just between those two entities, we have seen about 50,000 Bitcoin bought. That's about 100 days of newly mined supply. And what's really interesting is we saw a massive hack happen hours ago. This is an exchange called BitGit. They're being hacked for $350 million.

And I don't think that this is a coincidence that we're seeing this in the same week that Binance has seen its largest single day Exodus in over three years. I think we could be starting to see the signs that a supply shock is brewing. And I think it's going to be a lot bigger than what we saw in 2024

Opti, we have a lot to talk about today. What is making you most bullish?

Nico Moran (1:29)

Yeah, yeah. And first of all, hold on.

Hopefully you can hear me guys. Apologies on the late start. And I'm not in the studio. As you can tell, we had another power outage. I'm at home right now. The quality is not what you're used to, but hey, I got Luke to come in with me.

Obviously there's a lot going on. And I know Luke, you and I have been talking about the supply shock for a long time. There's been a lot of people in the chat saying essentially like, you guys have been saying supply shock forever. Like when is the supply shock coming? And then what did we see when we saw Bitcoin go from, what was it, 62 to 87? We in fact saw there was not only just a supply shock, but we saw the mother of all short squeezes. It wasn't the mother of all short squeezes. It was a pretty good short squeeze. Now we are seeing what you've been saying for a long time. And maybe this is when we pull up your favorite chart here, which is the CryptoQuant, wait, I don't, oh yeah. Do I have it here?

Luke (2:31)

Oh, I've got it. It's my favorite. All right, you got it. Okay.

Nico Moran (2:35)

All right. So let's zoom out, go year to date here. Or wait, is that all time? Okay, you have all time. Now, what is interesting, and Luke has been saying this for a long time, even I fought Luke on this message in the very beginning when you came on the show, I don't know, over a year ago, you're like, no, it's happening. And I think the last time you were on the show, we were arguing about whether this is actually happening or not. But what we have seen, and if you look at this chart here, you can see that the supply on exchanges is going down. That is a consistent trend. You never want to fight the trend. But what is interesting is we are almost back to the May low, May 2026 low of Bitcoin on exchanges, which obviously I do have my view on here where it's like, okay, at any price Bitcoin is going to hit an exchange, I don't really hold too much weight to that metric. But when you do see huge outflows from Binance, when you start seeing a lot of Bitcoin leave exchanges, and you start to see the ETF inflows come in, and they're buying what? I think I have the numbers over here for you guys.

20,000, over 20,000 coins here leaving or getting bought by the exchanges. So here you have that one. Here's the numbers from CoinGlass.

As you can see, what was this? Monday, 123K Bitcoin, Tuesday, 8.25,000 or 8,000 Bitcoin.

Wednesday, 4, and then yesterday, 2,000. Who knows what we're going to see today? But there's obviously demand going on here. Now, what is also interesting, and I don't know if you guys saw the River newsletter, but they also dropped an interesting post here. This was on the 23rd. And this is when Luke and I really were like, hey, are we seeing what we think we're seeing, or are we hallucinating this? So here's the River's post. And it goes, for once, honestly, Luke, I think they're shooting shots at us, all right? I think that was aimed at us.