Bitcoin exchange balances fall to lowest since April 2018
According to Glassnode data, since mid-March 2020, the amount of Bitcoin stored in exchange wallets has significantly decreased, marking a significant shift in investor behavior. At that time, more than 17% of the total Bitcoin supply was held on exchanges, reaching a historic high. However, the trend of decreasing exchange balances has continued, even during the 2021 Bitcoin bull market and is expected to continue until 2024. The amount of Bitcoin held on exchanges has continued to decline this year. From January 1st to February 19th, the amount of Bitcoin in exchange wallets decreased from 2.356 million BTC to 2.314 million BTC, the lowest level since April 2018.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu Ecosystem Expands—Team Says Kusama is on Track, SHIB Ready to Pump
Real Estate Meets Crypto— Lumia CEO and Polygon Exec Talk Tokenized $220M Towers
Solana (SOL) Eyes 252% Surge Amid Bullish Signals
Solana (SOL) confirms a Hidden Bull Divergence pattern, signaling a potential 252% surge to $457.97. Is a major breakout ahead?Breaking Key Resistance LevelsCan SOL Reach $457.97?
Retail Bitcoin Holders Are Selling—A Repeat of 2020?
Retail Bitcoin holders are offloading BTC, mirroring the 2020 capitulation phase. What does this mean for the market?Retail Bitcoin Holders Are Selling—What’s Happening?Is This a Bullish or Bearish Signal?What’s Next for Bitcoin?
Trending news
MoreCrypto prices
More
