Bitcoin Leaves Exchanges as ETFs Absorb Supply and Holders Stay Bullish

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There are at least 400,000 fewer Bitcoin on exchanges compared to the same time last year, in a positive sign for the market, according to the market intelligence platform Santiment. 

Over 403,000 Bitcoin (BTC) have moved off exchanges since Dec. 7, 2024, representing roughly 2% of the total supply, Santiment said in an X post on Monday, citing data from its sanbase dashboard.

Users often move their Bitcoin away from exchanges into cold storage wallets, which, in theory, makes it harder to sell and could signal long-term plans to hold onto it. 



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Bitcoin Leaves Exchanges as ETFs Absorb Supply and Holders Stay Bullish


There are at least 400,000 fewer Bitcoin on exchanges compared to the same time last year, in a positive sign for the market, according to the market intelligence platform Santiment. 

Over 403,000 Bitcoin (BTC) have moved off exchanges since Dec. 7, 2024, representing roughly 2% of the total supply, Santiment said in an X post on Monday, citing data from its sanbase dashboard.

Users often move their Bitcoin away from exchanges into cold storage wallets, which, in theory, makes it harder to sell and could signal long-term plans to hold onto it. 



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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