On-chain data shows the Bitcoin exchange supply has resumed its downtrend recently, after earlier deviating towards a rise.
Bitcoin Percent Supply On Exchanges Has Dropped To 11.8%
As pointed out by an analyst in a post on X, the BTC exchange supply is back to its year-to-date (YTD) lows. The relevant metric here is the “percent balance on exchanges,” which keeps track of the total percentage of the Bitcoin supply that’s currently sitting in the wallets of all centralized exchanges.
When the value of this indicator goes up, it means that the investors are depositing a net amount of the cryptocurrency into these platforms. As one of the main reasons why investors make such transfers is for selling purposes, this kind of trend can carry potential bearish effects for the coin.
On the other hand, the metric’s value going down implies the holders are moving their coins away from these central entities into their self-custodial addresses. Generally, investors who show this behavior p
We współpracy z: https://bitcoinist.com/bitcoin-exchange-supply-plunges-erases-increase/
