The amount of Bitcoin on exchanges has reached historic lows, according to Glassnode and CoinMarketCap data.
It can also be noted that approximately 37 million wallets have held BTC for over a year (69% of wallets).
According to CryptoQuant, BTC has been leaving exchanges since July 2021, so currently only 2 million remain on these platforms.
OK BUT...WHY?
The reasons are many, perhaps infinite. Citing a few, for a long time Bitcoin is taking on the role of a store of value in defense against inflation, or wants to keep it in a safer place free from scam regulations or other unpleasant situations (see FTX).
Whatever way you look at it, it is a simply positive sign, the number of people who have confidence in Bitcoin and who currently have no intention of selling it because they expect long-term growth is increasing.
As mentioned in previous articles, 2024 is the year of the Bitcoin halving and which has historically led the price of Bitcoin to rise, adding the current news on the requests for approval of Spot ETFs by Grayscale, BlackRock and many others, perhaps there are many reasons to hold Bitcoin for a few more months/years.
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