Investors Pile into Bitcoin: $219 Billion Held Off Exchanges

Recent data reveals a staggering $219 billion worth of Bitcoin has been withdrawn from exchanges since 2020, indicating a growing trend towards long-term holding and reduced selling pressure. This shift marks a significant departure from traditional trading patterns, as investors are choosing to retain ownership rather than sell their holdings. Blockchain analysis shows over 3.77 million Bitcoins have been moved away from centralized exchanges since 2020. This exodus is leading to an overall decrease in Bitcoin supply on exchange platforms and signals a potentially bullish trend for the market.