Miners continue to face pressure; however, retail and whale investors start showing an interest in BTCstated that Bitcoin HODLers were switching to self-custody and moving their BTC away from exchanges. At the time of the tweet, only 6.95% of Bitcoin was sitting on exchanges.As is evidenced by the image below, Bitcoin’s supply on exchanges dropped to its lowest in four years.
Though the trend of withdrawing BTC from exchanges started in 2020, it accelerated in the recent past due to the FTX fallout.However, a decline in Bitcoin on exchange did not imply a decreasing interest in BTC.’s prices fell, many investors decided to capitalize on this opportunity and attempted to secure BTC at discounted prices.
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