Right, so apparently some on-chain data thingy is showing that US exchanges are being all dominant with Bitcoin volume again. Honestly, who can keep up? 🙄 Anyway, apparently, this has happened before, so let’s see what chaos ensued last time, shall we?
Bitcoin US Vs Off-Shore Ratio Has Been Rising Recently (Like My Hemline After a Few Gin & Tonics)
So, this CryptoQuant bloke, Axel Adler Jr (sounds terribly serious), posted on X (formerly Twitter, obvs) about this “US vs. Off-Shore Ratio”. Apparently, it’s like some sort of competition between American and foreign platforms to see who can trade the most Bitcoin. Like anyone actually cares. 🤷♀️
If the ratio is, like, bigger than 1, it means the US is winning. If it’s less, then the foreigners are having all the fun. Honestly, it’s all a bit much, isn’t it? All this techy stuff. Give me a good rom-com any day. 🎬
Here’s a chart that Axel (can I call him Axel?) shared. Prepare to be amazed… or maybe just slightly bewildered. 🤪
As you can see (or maybe not, charts are confusing!), the US vs. Off-Shore Ratio had a bit of a surge in 2023. Apparently, this meant the Yanks were back in charge. They’ve been clinging on ever since, like me to a sale at Harvey Nichols. 🛍️
It seems the indicator went even higher in January, but then had a bit of a wobble. But fear not! It’s still above 1, so the Americans are still technically winning, even if it’s only by a tiny bit. Like me after “Dry January” lasts till the 2nd, lol. 🍸
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2025-04-17 11:12