Bitcoin has reached a new record, climbing to $113,923, but the amount available for sale has dropped to a historical low.
New All-Time High for Bitcoin
Bitcoin has hit a new record high, rising to $113,923. This is the highest price ever reached by the cryptocurrency. According to CryptoQuant, the number of bitcoins sent to exchanges has significantly decreased.
Decrease in Selling Among Holders
In the last day, only 18,000 bitcoins were sent to exchanges, the lowest level since April 2015. This suggests that fewer people are planning to sell, as usually, when prices rise, inflows to exchanges increase.
Current Trends and Market Sentiment
Despite the new highs, the activity of large investors, or whales, has also decreased. In November 2024, they were sending around 62,000 BTC to exchanges, while today that number stands at just 7,000 BTC. Additionally, over the last four months, more than 315,000 bitcoins have been moved to private wallets, and the total amount of bitcoins leaving exchanges over the past five years reached 1.88 million.
Thus, despite record levels, selling pressures remain low, which may indicate holders' confidence in the market's further growth prospects.
