Bitcoin Continues Milestone Run, Traders Aren't Jumping the Gun

📈 Bitcoin has made yet another historic all-time high, surging to a market value of $113,923 30 minutes ago. Despite$BTC's +13.6% price rise since its June 22nd local bottom, traders are not showing eagerness to move coins back on to exchanges (to potentially sell).

🤯 In fact, among known exchange addresses, the long-term trend continues to show Bitcoin holders moving their coins into self custody wallets more and more. In the past 4 months alone, there has been a net drop of 315,830 Bitcoin on exchanges (-21%). Dating back 5 years to July, 2020, the drop has been even more staggering, with 1.88M moving away from exchanges (-61%).

👍 Overall, the trend of coins staying off exchanges is a sign that the threat of sudden market plummets is more limited, and long-term investors are increasingly content to keep their coins safe in personal storage for the long run.

👀 Explore the daily changes in exchange supply with this handy chart, and toggle between other coins you wish to monitor as well.

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