According to ChainCatcher, citing Decrypt, CryptoQuant data shows that the BTC platform supply has dropped to a seven-year low, falling to 2.488 million BTC last Friday. The platform reserves are currently 2.492 million BTC, increasing by about 40,000 BTC over the weekend, but this level remains the lowest since October 2018.
CoinShares reported that BTC fund inflows reached $3.2 billion in the week ending April 28. The dual factors of declining foreign exchange balance and increased capital inflows suggest that a new phase of accumulation is about to begin. During the past week's rally, retail investors seem to have played a larger role than in recent weeks. This is more evident in the "platform whale ratio", which has dropped from 0.512 on April 17 to 0.36 on April 27.
