The cryptocurrency market has experienced a lot of turbulence this year, causing negative sentiments among traders and investors. However, market metrics and on-chain data suggest that Bitcoin investors are remaining bullish in the long term. In fact, data from Glassnode reveals that Bitcoin balances on exchanges have dropped to a 5-year low, indicating that investors are staying put despite the market chaos. Additionally, the number of non-zero addresses has reached an all-time high, and Bitcoin miners are actively accumulating more coins. These trends point to a potential increase in demand and a decline in supply, which could ultimately drive up Bitcoin’s price.
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