Summary
- The phenomenon of accumulating Bitcoin in personal wallets is accelerating, showing belief in a long-term rise.
- It was stated that wallets with a long-term holding tendency are leading this trend.
- The amount of Bitcoin held in exchanges is decreasing at an all-time high rate, interpreted as investors' intention to store directly rather than in exchanges.
The phenomenon of accumulating Bitcoin (BTC) in personal wallets is accelerating. It is interpreted as showing belief in the long-term rise of Bitcoin.
On the 23rd, 'elcryptotavo' from the on-chain data analysis platform CryptoQuant stated, "There is no sign of slowing down in Bitcoin accumulation, especially with long-term holding wallets leading this trend."
He added, "Conversely, the amount of Bitcoin held in exchanges is decreasing at an all-time high rate," and "This is interpreted as investors preferring to store assets directly rather than in exchanges."
Meanwhile, Bitcoin is trading at around $102,000 on the Binance Tether (USDT) market, down approximately 3.5% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
