BTC hodlers do not want to sell and are moving their funds away from exchanges

BTC hodlers do not want to sell and are moving their funds away from exchanges

FOMO on Bitcoin continues, the price has almost exceeded $ 16K but the exchange balance is falling and is at its lowest value since Feb 4th’18.


6 Nov 2020 , 11:03 @ Katie Müller

BTC hodlers do not want to sell and are moving their funds away from exchanges

FOMO on Bitcoin continues, the price has almost exceeded $ 16K but the exchange balance is falling and is at its lowest value since Feb 4th’18.

We are currently witnessing a really unusual situation in terms of trading and so as the Bitcoin owners. This fact was pointed out by Vetle Lunde, an analyst at ArcaneResearch, which is initially focused on BTC deposits in major exchanges, which are falling by more than 560,000 BTC (19%) as of March 15 this year.

The aggregated exchange balance fell below 2.4 million BTC for the first time since August 2018:

As for the circulating BTC supply, it  increased by 1.3m BTC since August 2018. Here, however, we can see another interesting fact regarding the percentage share of BTC deposits on exchanges compared to the circulating Bitcoin supply.

Based on this indicator, the exchange balance is currently at its lowest level since February 4, 2018.

As a result, however, these facts may reassure many investors, as this indicates only one thing, that Bitcoin hodlers are not yet preparing for sale.

Read also: Grayscale made another gigantic investment of 75,419 ETH (~ $ 30M), 5,191 BTC (~ $ 71M)

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    Katie Müller

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