On-chain data suggests the rise of long-term BTC investors
As the bitcoin (BTC) price broke the $30,000 barrier, data shows that long-term investors have risen while showing slow but steady growth. According to data from CryptoQuant, the bitcoin inflows to exchanges indicator witnessed its most significant decline. Simply put, the BTC supply on the exchanges has dropped significantly. "Largest Decline of Bitcoin Inflows and Supply in History" Quicktake Post by @1mrpapi Thread pic.twitter.com/JKVi0lB3F9 — CryptoQuant.com (@cryptoquant_com) July 3, 2023 Moreover, per the data, the number of suspected selling addresses on exchanges has plunged by 84% since May 2021 and 80% since October 2021. This shows the possibility of long-term accumulations. You might also like: Cameron Winklevoss slams SEC’s bitcoin ETF rejection In addition, CryptoQuant data suggests that the amount of the BTC supply of exchanges has fallen by more than 30% since March 2020, marking a new record. The current behavior shows a “positive ev...