With the decline in the price of bitcoin, there has been a lot of selling from investors. This sell-off trend has contributed to the further decline of the digital asset’s prices in recent times. However, as the bear run continues, there has been a marked reduction in the amount of BTC being sold off by the holders. The decline in the number of addresses that are sending their coins to centralized exchanges speaks volumes about this.
Sellers Beginning To Cool Off
Over the last year, the number of bitcoin addresses that had been sending BTC to centralized exchanges, presumably to sell their holdings, had grown incredibly. But had started to decline in recent weeks as the sell-offs had begun to subside.
According to Glassnode, the