Bitcoin peeled off exchanges this year in ‘positive long-term sign’
Over 403,000 Bitcoin have moved off exchanges this year, signaling a positive long-term outlook for the market.Summary
Data from Santiment indicates that over 403,000 Bitcoin (BTC), representing about 2% of the total supply, have moved off exchanges since December 7, 2024, compared to the previous year. This outflow, where users move coins to cold storage, is considered a positive long-term sign as fewer coins on exchanges historically correlate with less risk of major sell-offs.
Furthermore, Giannis Andreou, CEO of Bitmern Mining, suggests that Bitcoin Exchange-Traded Funds (ETFs) and public companies are absorbing these coins. Citing data from BitcoinTreasuries.Net, Andreou notes that institutional ownership now surpasses the total Bitcoin held by all exchanges combined. This shift signifies a move toward less liquid supply and more long-term holders, driven by regulated vehicles rather than trading platforms, creating a real-time supply squeeze.
(Source：Cointelegraph)