Bitcoin holders cut exchange transfers as whales move $307M — $80K rebound next?

Bitcoin old holders who purchased their coins six to twelve months ago have now considerably reduced their exchange-bound transfers. In fact, according to CryptoQuant insights, the holders’ share of exchange-bound transfers fell from 40.4% on 17th June to 4.4% on 15th October. On the contrary, broader BTC movement increased despite a reduction in exchange-bound activity among these holders. To be specific, the latest 30-day transfer volume hit 205,400 BTC, compared to the 157,700 BTC in June. The figures might allude to a shift in how older investors move their holdings. Additionally, a fall in exchange participation could mean weaker immediate selling pressure from this particular investor group.

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