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❕NEWS Bullish Sign for BTC & ETH

maryanna

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According to Glassnode data, user balances of Bitcoin and Ethereum on centralized exchanges have significantly declined. The value of Bitcoin has dropped to less than 2.3 million BTC, approximately $158 billion, while the value of Ethereum has fallen to less than 16 million ETH, roughly under $58 billion. The user balances of these two major cryptocurrencies have reached their lowest point in four years which suggests that investors might be increasingly holding their assets in private wallets rather than leaving them on exchanges. This behavior is often interpreted as a bullish sign, as it indicates long-term HODLing rather than short-term trading.

Let's wait and see.
 
According to Glassnode data, user balances of Bitcoin and Ethereum on centralized exchanges have significantly declined. The value of Bitcoin has dropped to less than 2.3 million BTC, approximately $158 billion, while the value of Ethereum has fallen to less than 16 million ETH, roughly under $58 billion. The user balances of these two major cryptocurrencies have reached their lowest point in four years which suggests that investors might be increasingly holding their assets in private wallets rather than leaving them on exchanges. This behavior is often interpreted as a bullish sign, as it indicates long-term HODLing rather than short-term trading.

Let's wait and see.
Indeed, the decrease in user balances of Bitcoin and Ethereum on centralized exchanges is a significant indicator of a shift towards long-term HODLing by investors. This trend suggests a growing confidence in holding crypto assets in private wallets rather than keeping them on exchanges for trading purposes. Historically, such behavior has often been associated with bullish market sentiments as it signifies a belief in the potential long-term value appreciation of these cryptocurrencies. It will be interesting to observe how this trend unfolds and whether it will continue to support the positive outlook for BTC and ETH.
 
The halving has a significant effect on the massive reduction of the Bitcoin and Ethereum tokens in exchanges. There is nothing anyone can tell me. Just hold on to your crypto assets because when BTC is bullish, most other cryptos would be bullish.
 
According to Glassnode data, user balances of Bitcoin and Ethereum on centralized exchanges have significantly declined. The value of Bitcoin has dropped to less than 2.3 million BTC, approximately $158 billion, while the value of Ethereum has fallen to less than 16 million ETH, roughly under $58 billion. The user balances of these two major cryptocurrencies have reached their lowest point in four years which suggests that investors might be increasingly holding their assets in private wallets rather than leaving them on exchanges. This behavior is often interpreted as a bullish sign, as it indicates long-term HODLing rather than short-term trading.

Let's wait and see.
I think crypto investors whether hodlers or traders are now realizing that the way to go is to hold coins in non custodial wallets for the long term than fighting for quick and unsustainable gains through trading.

It might also be a sign that crypto exchanges are losing trust and approval by crypto investors especially retail who has lower holdings of crypto and since its easy to move their crypto they will do unlike whales
 

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