In 4 months, 315,830 $BTC ($35.8b) were withdrawn from crypto exchanges - Santiment 💧

Investors are actively withdrawing BTC from exchanges, despite the new ATH. There is no pressure from sellers. Bitcoin has reached another historic record high, rising to a market value of $118K. Despite the BTC price rising +13.6% since the local bottom on June 22, traders have shown no desire to bring coins onto exchanges (to potentially sell).

In fact, among known exchanges, the long-term trend continues to show that bitcoin holders are increasingly moving their coins into self-storage wallets. In the last 4 months alone, exchanges have seen a net drop of 315,830 bitcoins (-21%). Over the 5 years since July 2020, the drop has been even more staggering: 1.88M BTC left exchanges (-61%).

Overall, the trend of coins leaving exchanges indicates that the threat of a sudden market crash is becoming more limited, and long-term investors are increasingly choosing to keep their coins in personal vaults for the long term.

#BTC #BTCBreaksATH