RE: Bitcoin – Demand And Price On The Rise
Not only is Bitcoin’s price on the rise as of late, demand for the king of crypto is growing
Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Demand Rising
“Additionally, markets analytics firm, Arcane Research, noted that decreasing balances on exchanges suggest users are showing more interest in holding their Bitcoin for the long term by withdrawing their BTC from exchanges to control their own private keys directly.
This trend means less selling pressure from BTC holders and comes just two months after the 2020 halving that reduced the amount of newly mined Bitcoin in half.
Coupled with the recent increase in Tether (USDT) exchange inflows, which have reached their 2020 high yesterday, and overall supply that’s now over $10 billion, the number of digital dollars waiting on the sidelines to potentially buy BTC is bigger than ever.”