Investors are holding onto BTC, waiting for a bullish momentum
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According to data provided by CryptoQuant, the value of Bitcoin reserves has seen a significant drop of approximately $7 billion in the past month. CryptoQuant's publication states, "At the very least, the amount of Bitcoin circulating on exchanges has decreased over the last month." Furthermore, CryptoQuant data indicates that exchange platforms have lost a substantial amount of 2,132,000 Bitcoins from their reserves. This decrease suggests that investors are opting to hold onto their Bitcoins rather than engaging in large-scale selling. Past data reveals an ongoing decline in the number of deposit transactions on exchanges since 2022, resembling a situation witnessed in July 2019 (likely influenced by the positive sentiment surrounding the upcoming Bitcoin halving event scheduled for May 2020) submitted by /u/chumeanbro |
