UPDATE

Bitcoin supply on exchanges continues to decline, showing strong holder confidence despite price volatility.

Over the last 6 months, traders have withdrawn 208,980 BTC from exchanges a 1.08% decrease in total exchange supply. This signals that most investors prefer to hodl their coins rather than sell, even after Bitcoin’s 14% drop from its all time high.

Historically, a drop in exchange balances reflects long term accumulation and lower sell side pressure. With more Bitcoin moving into cold storage, this trend suggests a solid belief among holders that the next major move will favor the upside once volatility settles.