#CryptoMarketsDipSlightly

Bitcoin Hits Historical Record: Investors Empty Exchanges

Despite the market slowdown, Bitcoin adoption is accelerating. Current data proves that investors are not only buying, but also withdrawing their assets from exchanges and moving them to cold wallets for long-term storage.

All-Time High

The number of active wallets on the Bitcoin network has reached a historical record of 58.45 million. The addition of 1.69 million new wallets to the network in the last 6 months represents a 3% increase in the number of users.

The continued accumulation trend, despite price declines and bear market expectations, is a noteworthy development. On the other hand, the amount of Bitcoin held on exchanges has fallen to its lowest level since December 2017, dropping to 1.17 million.
The flow from exchanges to cold wallets indicates that both individual and institutional investors are pursuing a "buy the dip" strategy. However, data reveals that institutions are much more eager than individual investors. For example, while $1.45 billion flowed into US spot Bitcoin ETFs at the end of February, individual investors experienced a $5 billion contraction in the 30-day period leading up to the beginning of March.
Despite Geopolitical Uncertainties, Spot Demand Remains Strong

Although geopolitical uncertainties are shaking the markets, spot purchases by investors and institutions using non-leveraged trading continue. This confirms the return of demand from US investors.

Derivative market data indicates that the rise is stemming from a genuine accumulation phase rather than speculative moves. This strong demand has pushed Bitcoin back above the $70,000 mark after a three-week hiatus. The leading cryptocurrency continues to trade around $70,560, with a slight pullback in the last 24 hours.
‍$BTC $GT