Right after Bitcoin (BTC) broke its previous all-time high of $109,000, a shocking wave of selloff was triggered from the US government’s side again.
Bitcoin reached a new ATH of $111,970 on May 22, and the global crypto market cap surpassed the $3.5 trillion mark again. A day later, US President Donald Trump threatened the European Union with a 50% tariff on all imports. Trump said the negotiations with the EU were not going well. This brought a massive wave of selloffs. Bitcoin dropped below $107,000. However, both small and large investors continued their Bitcoin accumulation.
Declinding Bitcoin Balance
According to data from Coinglass, the total Bitcoin balance on centralized exchanges has been consistently declining over the past month, falling from 2.26 million BTC on April 23 to 2.15 million BTC on May 24. Coinbase and Binance lead with 40,772 BTC and 39,713 BTC outflows over the past week. The declining BTC balance on CEXs shows that investors are likely accumu
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