Bitcoin Staying Away From Exchanges, a Strong Long-Term Sign
๐ As Bitcoin's market value hovers around $90K, crypto's top market cap continues to see its supply moving away from exchanges. Over the past year, there has b
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๐ As Bitcoin's market value hovers around $90K, crypto's top market cap continues to see its supply moving away from exchanges. Over the past year, there has been:
๐ A net total of -403.2K $BTC moving off exchanges
๐ A net reduction of -2.09% of $BTC's entire supply moving off exchanges
๐ In general, this is a positive long-term sign. The less coins exist on exchanges, the less likely we've historically seen a major sell-off that causes downside pressure for an asset's price.
๐ Bookmark this supply on exchange chart for yourself, and watch for trend reversals for price alpha!
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