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An intriguing shift in the Bitcoin market since October last year. The current data reveals that the cohort of Bitcoin on exchanges, standing at 2.3 million, is being outweighed by long-term holders, who collectively account for around 2.9 million Bitcoin. This change in the Bitcoin holding pattern signifies an apparent divergence, indicating a growing inclination towards long-term investment as opposed to conventional exchange-based trading.
As we progress, the share of Bitcoin on exchanges is gradually diminishing, suggesting a potential shift in investor strategy. Such a trend could imply growing confidence in Bitcoin’s long-term value or perhaps a response to the volatility observed in the short-term exchange environment.
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Source: https://cryptoslate.com/insights/long-term-bitcoin-holders-continue-to-eclipse-exchange-supply/