🚀Bitcoin supply on exchanges hit its lowest point in 5 years, around 2.29 million BTC! According to data from Glassnode, the percentage of BTC on exchanges fell from 5.99% to 5.73% since September 1, indicating a decrease in selling pressure.
What does this mean? 🤔
1. The 'whales' (big holders) continue to accumulate BTC, controlling more than 66% of the total circulating supply.
2. The top 1% of Bitcoin addresses own almost 19.3 million coins.
Outflows from exchanges are usually considered bullish for asset prices, as they reduce selling pressure and indicate long-term investor confidence. 🐳
What do you think, is this a sign that Bitcoin prices will continue to rise? Come on, discuss it in the comments column! 😄
What does this mean? 🤔
1. The 'whales' (big holders) continue to accumulate BTC, controlling more than 66% of the total circulating supply.
2. The top 1% of Bitcoin addresses own almost 19.3 million coins.
Outflows from exchanges are usually considered bullish for asset prices, as they reduce selling pressure and indicate long-term investor confidence. 🐳
What do you think, is this a sign that Bitcoin prices will continue to rise? Come on, discuss it in the comments column! 😄