On-chain data shows that the amount of funds flowing out of the on-chain addresses of the US and German governments last week was approximately US$1.39 billion

PANews reported on July 8 that OKG Research said that from July 1 to July 7, the address balance on the German government chain showed a decrease of approximately US$420 million. Compared with the previous value, the rate of decline was An increase of 75%. Since the address balance on the chain reached its peak ($3.6 billion) on March 17, 2024, it has dropped by $655 million. Compared with the total reduction in assets, the recent decrease has accelerated significantly.

However, it is the US government that has seen a greater decline in on-chain address balances. From July 1 to July 7, the address balance on its chain decreased by approximately US$970 million, a decline that slowed down by 11.82% compared to the previous value. Since the data address balance on the chain reached its peak ($17 billion) on March 14, 2024, it has dropped by $2.77 billion.

Comparing the funds flowing out from the Grayscale BTC spot ETF channel, as of today, it is about 18.6 billion US dollars, so the outflow speed of the above-mentioned on-chain addresses has also accelerated significantly.

Since Bitcoin assets are more elastic, when these influencing factors are digested by the market, Bitcoin will return to its role as an "amplifier" for U.S. stocks.