đăBitcoin holdings have dropped sharply, and market sentiment tends towards long-term holdingăđ
According to CryptoQuant data, Bitcoin (BTC) holdings on exchanges fell significantly as of September 16, reaching levels last seen in mid-November 2018. That dropped to 2.58 million from about 2.62 million at the beginning of the month, a decrease of nearly 38,000 in two weeks. đ
The annual trend is more significant, with BTC exchange reserves declining by approximately 430,000 since the beginning of the year. The decline in this indicator indicates that the market is more inclined to hold Bitcoin for the long term rather than making short-term trades. đ
This long-term holding behavior could increase Bitcoin price volatility, especially if supply is constrained and demand surges. Although the overall market sentiment is neutral, we remain optimistic about the future of Bitcoin. đ
