The number of Bitcoins on cryptocurrency exchanges has dropped significantly, reaching its lowest level since November 2018. This trend suggests that investors are choosing to hold Bitcoin for the long term rather than actively trading it.
According to Cryptoquant, the number of Bitcoins on crypto exchanges has dropped to around 2.58 million coins. This is a significant decrease from the peak levels of 2021 during the previous bull run.
The scarcity of Bitcoins potentially reduces selling pressure, and if demand remains the same or increases, Bitcoin’s upward movement will continue.
This situation also suggests that investors are placing their faith in Bitcoin as a store of value due to the unpredictable global economic environment and rising inflation.

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