Is Bitcoin on the cusp of a bullish breakout? See what glassnode co-founder, Negentropic_, thinks in our latest article -
that the conviction of existing Bitcoin holders remained “remarkably high,” even as the market witnessed extreme volatility and immense deleveraging over the last two years.that investors are moving their Bitcoin stashes from crypto exchanges to cold storage wallets. While existing supplies moving into self-custody is not a perfect indicator, the crypto analytic firm said that the declining quantities of BTC on exchanges generally hint at future bull runs.
Over the past few months, Binance has also seen a rise in bitcoin outflows, indicating that many users incline towards self-custody instead of a third-party custodian.
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