The amount of Bitcoin available on crypto exchanges has fallen to its lowest level in more than half a decade, currently standing at 5.84%, according to data retrieved from a platform called Coinglass. This suggests traders and investors have been turning towards self-custody as the cryptocurrency sector continues to stagnate.

This is a positive sign for the industry, as it indicates that holders of Bitcoin are taking personal control of their digital assets to ensure their security and reduce risk. The decrease in Bitcoins on exchanges could potentially be a bullish signal, demonstrating that the currency is being purchased by holders.

Press time reports the value of Bitcoin at $27,450, a drop of 0.40 percent in 24 hours and 5.31 percent in a week. This is despite positive news from the US with their consumer price index, which showed that inflation has slowed down more than anticipated.

The issue of security and safety of cryptocurrencies remains one of concern, as history has repeated itself with incidents such as FTX. This has caused fear among many cryptocurrency investors, highlighting the importance of self-custody and control. As such, the trend of moving assets off exchanges and into personal wallets signifies an increased interest in secure and safe cryptocurrency transactions.

In conclusion, the decreasing amount of Bitcoin on crypto exchanges is a positive sign for the sector, suggesting an upsurge in holder ownership and an increasing preference towards self-custody and secure transactions. Despite the news from the US, the crypto market is still in a bearish phase and cryptocurrencies exist in a volatile and high-risk market, so it is important to seek professional advice before investing.



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