The Bitcoin market is at a significant moment: the price of the cryptocurrency has once again increased, and data shows strong upward trends.
Long-Term Strategy: Time for Self-Custody of BTC
According to Alphractal's analysis, over 3.77 million BTC have been withdrawn from crypto exchanges in the past five years, amounting to nearly $219 billion.
This trend reflects a significant change in the behavior of long-term investors. By withdrawing their BTC into private wallets, these investors signal a clear intention to preserve value.
This wave of capital outflows is part of a HODL strategy and significantly reduces the supply of Bitcoin on exchanges, which in turn mitigates market pressure.
BTC Flows and Growth Predictions
Current flows indicate a strong bullish trend in the market.
Trader Tardigrade notes that if Bitcoin crosses a certain technical line again, its price could climb to $230,000 before a potential pullback.
The week has already shown that more than 6 million Bitcoins have vanished forever from the market, supporting the increasing scarcity of the asset.
Dynamics in the Cryptocurrency Market
With growing confidence from long-term investors, the current configuration could significantly alter the dynamics of supply and demand in the crypto market. Given that the available amount of BTC on exchanges is decreasing, Bitcoin may soon enter a new bullish phase, which investors should closely monitor.
The Bitcoin market shows signs of activating a bullish trend, and the decrease in supply on exchanges could be a catalyst for further price increases.
