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Santiment Reports Sharp Decline in Bitcoin Holdings on Exchanges

Santiment Reports Sharp Decline in Bitcoin Holdings on Exchanges

The proportion of the leading cryptocurrency held on exchanges has fallen to 7.53%, according to analysts at Santiment.

This is the lowest level in the past seven years, since February 2018.

Experts suggest that the reduction in coins on trading platforms indicates a decrease in potential future selling pressure.

Bitcoins are increasingly being moved to cold wallets, signaling an intention to hold the asset for the long term. This reduces the liquidity available for sale, lowering the likelihood of sharp price drops amid volatility.

The trend also highlights the growing interest of institutional investors in digital gold, noted Santiment. Coins are being held for the long term as the market views the asset as a store of value rather than a tool for speculation. This contributes to the industry’s stability and maturity.

Earlier, on March 25, analysts predicted the continuation of Bitcoin’s rally. Santiment reached this conclusion based on an analysis of community sentiment.

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