Glassnode data shows (BTC) exchange reserves on Coinbase have dropped by about $8 billion. This indicates that institutional investors are locking away their purchases in cold storage for the long term instead of booking profits.
HODLing by institutions is a huge positive as it will continue to reduce Bitcoin’s available supply, which may boost prices even if demand begins to diminish.
Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.