Bitcoin

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<p class="is-style-lead">CryptoQuant bitcoin research indicates an 80% decline in the number of addresses logging inflows over a span of 612 days. This marks the largest decline ever recorded in the history of bitcoin.</p> 
<p>The analysis, which considers data from October 2021, highlights an even higher decline of 84% when compared to the peak in May 2021.</p> 
<h2 class="wp-block-heading" id="a-record-high">A record high</h2> 
<p>In the thread, CryptoQuant highlights the significant decrease in the amount of <a href="https://crypto.news/price/bitcoin/">bitcoin</a> being deposited into cryptocurrency exchanges and the overall supply of bitcoin available on these platforms.</p> 
<p>Later in the thread, the platform points to March 2020, when bitcoin witnessed its highest recorded supply on exchanges after a decade of consistent growth; there has been an unprecedented and continuous decline in Bitcoin’s supply over the past 1,200 days. </p> 
<p>The shift in supply dynamics signifies a significant change in the way bitcoin is being held and traded, showing that long-term hodlers prefer storing their assets in self-custody wallets.</p> 
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   <p lang="en" dir="ltr">"Largest Decline of Bitcoin Inflows and Supply in History"<br>Quicktake Post by <a href="https://twitter.com/1MrPapi?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@1mrpapi</a><br><br>Thread🧵 <a href="https://t.co/JKVi0lB3F9" target="_blank">pic.twitter.com/JKVi0lB3F9</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1675742126192336897?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 3, 2023</a>
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<p>The observations made in the thread indicate a positive evolution in the overall perception of bitcoin. This is further supported by recent developments in the financial industry, including the filing or re-filing of ETFs by major players like BlackRock, as well as the introduction of upcoming regulatory frameworks in leading markets, particularly within the G20.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-trading-activity-surges-during-us-market-hours-research-shows/"> Bitcoin trading activity surges during US market hours, research shows </a> </p> 
<p>Both announcements have been closely tied to the price of bitcoin, with the price increasing following ETF listings and falling again with the announcement of the ETF applications being inadequate. </p> 
<p>On the other hand, the debate about the classification of cryptocurrencies, whether as a security, commodity, currency, or another asset class, remains a prominent topic of discussion in regulatory circles. </p> 
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<p>Since the announcement,&nbsp;<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>&nbsp;is showing bitcoin’s price increased 1.38% in the last 24 hours, where it currently sits at $30,998.13.</p> 
<h2 class="wp-block-heading" id="bitcoin-price-gains">Bitcoin price gains</h2> 
<p>Alongside news about inflows, analysts have identified a&nbsp;<a href="https://crypto.news/bitcoin-trading-activity-surges-during-us-market-hours-research-shows/">notable shift</a>&nbsp;in the strength of bitcoin’s price during U.S. market hours, indicating a positive trend since November 2022, when the market experienced a significant downturn.&nbsp;</p> 
<p>After a challenging period between mid-February and mid-June, reports show that bitcoin has showcased a year-to-date climb of 62%, including a 13% increase over the last 30 days and a 1.5% rise in the weekly timeframe.</p> 
<p> Read more: <a href="https://crypto.news/mastercard-says-its-multi-token-network-mtn-will-drive-mainstream-blockchain-adoption/"> Mastercard says its Multi-Token Network (MTN) will drive mainstream blockchain adoption </a> </p>

Bitcoin exchange inflows and supply see unprecedented decline

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