The amount of BTC stored on exchanges is falling. Whales are accumulating.

A recent report suggests that the amount of BTC stored on exchanges is falling, while whales are accumulating more and more coins. The amount of [...] https://www.pinterest.com/pin/1085437947660215829/

A recent report suggests that the amount of BTC stored on exchanges is falling, while whales are accumulating more and more coins. The amount of BTC held on exchanges is falling In a recent report on investor behavior, popular research firm Digital Delphi examined the amount of BTC stored on exchanges. It was shown that if the amount of bitcoin held on trading platforms is increasing, it can put selling pressure. However, this is not necessarily the case, especially when the market is bullish. Retail investors often "leave BTC on exchanges, and investors use BTC as collateral for deposits." Alternatively, when the price of an asset rises while BTC held on an exchange falls, this usually means an accumulation bias. The report points out that in mid-February, BTC held on exchanges reached a record high of 2.96 million. Since then, the trend has reversed and the number has dropped to below 2.6 million. Digital Delphi argued that the reason for the decline in BTC stored on exchanges is that investors are likely preparing for HODLing. Moreover, the report highlighted a significant decline in speculative interest and pointed to a growing mentality of HODLers. "In contrast to the upward price trend in 2019, which coincided with an increase in BTC on exchanges, this current trend is characterized by a divergence. This suggests more sustainable BTC price growth compared to 2019, as the data points to a holder base with longer time horizons." Whales not slowing down Digital Delphi's data confirmed previous reports suggesting that bitcoin whales, or addresses containing between 1,000 and 10,000 BTC, continue to accumulate cryptocurrencies. The company said whales have been experiencing a buying spree since early 2020. Their market share is up 9% from a year ago. Whales' accumulation has also been influenced by red-hot money printing machines in the US. "There has been a 7% increase in whale shares since the March expansion of US dollar M2 supply. According to the report, this only confirms that "Bitcoin serves as a hedge against dollar inflation." It is worth mentioning that prominent US investor Paul Tudor Jones III purchased BTC earlier this year to protect himself precisely against rising inflation. Tags study digital delphi report whales