Long-term Bitcoin holders continue to eclipse exchange supply

exchange68September 12, 2024

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Quick Take

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.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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