Bitcoins are Continuously Moving to Strong Hands
In the past 30 days around 270,000 $BTC moved to entities considered Hodlers
According to the data shared by Glassnode, Bitcoin is seeing the largest depletion of liquidity in years. An important thing to notice here is that not only are Bitcoins being withdrawn from exchanges, but coins are continuously moving to strong hands.
We have seen that bitcoin addresses holding more than 1000 $BTC increased in recent times. According to data, institutional investors are accumulating bitcoins more than it is mining on a daily basis. In the past 30 days around 270,000 $BTC moved to entities considered HODLers.
If we consider simple demand and supply mechanisms, we can get an idea of the way investors are accumulating and holding it. We might see a supply crunch in the coming days and prices might go up. Disclaimer - Cryptocurrency market is very volatile and risky. Before investing in any cryptocurrency, you should do your own research and the above information in any case must not be treated as financial advice. #Bitcoin #Crypto