Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>The balance of Bitcoin on exchanges has recently plummeted to a new record low for the year, with just 2.291 million <a href="https://cryptoslate.com/coins/bitcoin/" rel="noopener noreferrer nofollow">BTC</a> on exchanges. Data reveals that this figure is reminiscent of levels last observed in March 2018, marking a significant shift in the distribution of the cryptocurrency. Over the previous weekend, a substantial volume of Bitcoin exited the exchanges, primarily attributed to ‘whales,’ or large-scale holders of the digital asset.</p>
<p>The principal outflows were traced to two major cryptocurrency trading platforms, Bittrex Global and Bitstamp. This trend may indicates a more bullish sentiment among large investors as they move their holdings out of exchanges and into private wallets, presumably for long-term holding.</p>
<figure id="attachment_363326" aria-describedby="caption-attachment-363326" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-363326 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/EB.png" alt="Exchange Balance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/EB.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/EB-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/EB-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/EB-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/EB-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-363326" class="wp-caption-text">
  Exchange Balance: (Source: Glassnode)
 </figcaption>
</figure>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoins-exchange-balance-plummets-to-five-year-low/">Bitcoin’s exchange balance plummets to five-year low</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin’s exchange balance plummets to five-year low

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