Even with Bitcoin's surge, investors are holding... Exchange reserves drop 21% in 4 months

While Bitcoin continues its upward trend, hitting new all-time highs, the amount of Bitcoin held on exchanges has been steadily decreasing.

On the 10th (local time), Bitcoin surpassed the $116,000 mark, setting consecutive record highs. Notably, despite this rapid surge, there is no significant sign of investors moving their Bitcoin to exchanges to sell. Instead, there is a clear trend among long-term holders moving assets to personal wallets.

On this day, the cryptocurrency analytics platform Santiment reported, "In the past four months, Bitcoin exchange reserves have decreased by about 315,830 coins (21%)." The platform added, "This is a sign that selling pressure from long-term holders is not significant." Over the past five years, a total of 1.88 million Bitcoin have exited exchanges, which is equivalent to 61% of current exchange reserves.

Santiment stated, "The trend of storing Bitcoin in personal wallets rather than exchanges suggests strong long-term holder sentiment," adding, "This can also act as a factor that helps suppress the possibility of a sharp market decline."