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$2.5 billion BTC move off exchanges, suggesting potential for ‘significant’ price rise

$2.5 billion BTC move off exchanges, suggesting potential for ‘significant’ price rise

According to data from on-chain analytics firm Glassnode, shared by Bitcoin Archive, in just 2 weeks around 61,000 BTC worth over $2.5 billion were taken off of cryptocurrency trading platforms at a time in which the supply of BTC at these platforms reaches a 3-year low.

The total amount of Bitcoin moving on to exchanges remains low. This shows that investors are ready to hold onto their coins for longer periods, suggesting potential for a “significant” price rise.

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