Topic: $BTC Balance on Exchanges - page 2. (Read 286 times)
Maybe it shows people are willing to HODL for at least another year in preparation for the supposedly inevitable bull run. You know, not your keys, not your bitcoin. It makes no sense to keep any of your coins on an exchange if you’re not actively planning to trade short to medium term.
Looks like proof of keys at the start of january was a null event then... (tiny spike down I think).
I guess people want to hold more of their funds off exchanges but I don't really know what advancements have happened. Maybe the price is stable enough that people don't need trades that have stop losses or that they found something new to do with their funds (maybe defi)?
Either that or a company like binance could have just moved funds elsewhere (it's probably quite possible). 2.5M is a lot of btc to be stored on exchanges though, it's good to see it's going down.
I guess people want to hold more of their funds off exchanges but I don't really know what advancements have happened. Maybe the price is stable enough that people don't need trades that have stop losses or that they found something new to do with their funds (maybe defi)?
Either that or a company like binance could have just moved funds elsewhere (it's probably quite possible). 2.5M is a lot of btc to be stored on exchanges though, it's good to see it's going down.
According to @glassnodealerts*:
Bitcoin balance* on Exchanges just reached a 13-month low of 2,619,460.838 BTC 📉
Previous 13-month low of 2,630,423.224 BTC was observed on 30 June 2020.
View metric: https://studio.glassnode.com/metrics?a=BTC&m=distribution.BalanceExchanges
Does any of you have any explanation for that? Note that such measures may not be accurate due to the difficulty of knowing precisely the platform reserves, but they may give an indication of the nature of the future market movement.
*: The total amount of coins held on exchange addresses
*: Monitoring interesting movements of on-chain metrics
Bitcoin balance* on Exchanges just reached a 13-month low of 2,619,460.838 BTC 📉
Previous 13-month low of 2,630,423.224 BTC was observed on 30 June 2020.
View metric: https://studio.glassnode.com/metrics?a=BTC&m=distribution.BalanceExchanges
Does any of you have any explanation for that? Note that such measures may not be accurate due to the difficulty of knowing precisely the platform reserves, but they may give an indication of the nature of the future market movement.
*: The total amount of coins held on exchange addresses
*: Monitoring interesting movements of on-chain metrics
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