This trend is being interpreted as a signal of long-term holding and a return of market confidence.
They are also weighing the possibility of a rise in the price of Bitcoin. On the 1st (local time), according to data from on-chain data analysis company Glassnode, the cryptocurrency (
The percentage of Bitcoin held by cryptocurrency (cryptocurrency) exchanges has fallen since August 2018 to 14.5%, the lowest level in seven years. The decline in Bitcoin held by exchanges is due to the lack of available liquidity.
This means that the free market capitalization is decreasing, and is seen as a sign of rising expectations for price increases.
The media also reported that this is a signal that investors are choosing a long-term holding strategy (HODL) by moving their bitcoins to their local wallets or self-custodial wallets. In particular, large investors are withdrawing their bitcoins after buying large amounts.
This trend is strong, which reduces selling pressure while at the same time exacerbating the market supply shortage phenomenon. The over-the-counter (OTC) market, which is mainly used by high-value traders, is also under supply pressure. CryptoQuan
According to t, Bitcoin balances in OTC addresses connected to miners have fallen 21% since January to a record low of 155,472 BTC.
The figures are based on data from "1-hop" addresses, which excludes addresses of common miners and centralized exchanges.
This is a measure of real market liquidity. With supply shrinking rapidly, the foundations for price increases are strengthening.
Cryptocurrency Community X Account
Chiefs said that "the supply of Bitcoin in the OTC market is in free fall" and that "the price is rising, but the supply is
"Wages are falling. Right now we're seeing a classic supply shock unfold."
2025/07/02 16:49 KST
Copyright(C) BlockchainToday wowkorea.jp 117