BTC/USD Daily Chart
Analysts give the reason for the decline of 250,000 BTC from exchanges to be the consequence of the overall shortage of BTC sellers in the market and reduced trust toward exchanges.
A pseudonymous trader “Oddgems” noted that recent data shows Bitcoin is likely moving from exchanges to non-custodial wallets. He takes this action to imply that investors are transferring their funds to hodl in the longer timeframe.
Bitcoin reserves on exchanges. Courtesy: Glassnode
Image Credit: Glassnode, Shutterstock
bestadmin
