400K Bitcoin have peeled off exchanges since last year: Santiment
Some of the Bitcoin outflows from exchanges are going to individual users’ storage wallets, but ETFs and institutions are accumulating coins too.
There are at least 400,000 fewer Bitcoin on exchanges compared to the same time last year, in a positive sign for the market, according to the market intelligence platform Santiment.
Over 403,000 Bitcoin (BTC) have moved off exchanges since Dec. 7, 2024, representing roughly 2% of the total supply, Santiment said in an X post on Monday, citing data from its sanbase dashboard.
Users often move their Bitcoin away from exchanges into cold storage wallets, which, in theory, makes it harder to sell and could signal long-term plans to hold onto it.
