Bitcoin
Bitcoin (BTC)
$67,366.00 0.66608
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.99 -0.23569
Ethereum price
BNB
BNB (BNB)
$596.46 0.35042
BNB price
Solana
Solana (SOL)
$179.36 3.89004
Solana price
XRP
XRP (XRP)
$0.6035010 2.12423
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 -0.57825
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 0.23597
Pepe price
Bonk
Bonk (BONK)
$0.0000312 0.55688
Bonk price
Bitcoin
Bitcoin (BTC)
$67,366.00 0.66608
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.99 -0.23569
Ethereum price
BNB
BNB (BNB)
$596.46 0.35042
BNB price
Solana
Solana (SOL)
$179.36 3.89004
Solana price
XRP
XRP (XRP)
$0.6035010 2.12423
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 -0.57825
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 0.23597
Pepe price
Bonk
Bonk (BONK)
$0.0000312 0.55688
Bonk price
Bitcoin
Bitcoin (BTC)
$67,366.00 0.66608
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.99 -0.23569
Ethereum price
BNB
BNB (BNB)
$596.46 0.35042
BNB price
Solana
Solana (SOL)
$179.36 3.89004
Solana price
XRP
XRP (XRP)
$0.6035010 2.12423
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 -0.57825
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 0.23597
Pepe price
Bonk
Bonk (BONK)
$0.0000312 0.55688
Bonk price
Bitcoin
Bitcoin (BTC)
$67,366.00 0.66608
Bitcoin price
Ethereum
Ethereum (ETH)
$3,490.99 -0.23569
Ethereum price
BNB
BNB (BNB)
$596.46 0.35042
BNB price
Solana
Solana (SOL)
$179.36 3.89004
Solana price
XRP
XRP (XRP)
$0.6035010 2.12423
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 -0.57825
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000121 0.23597
Pepe price
Bonk
Bonk (BONK)
$0.0000312 0.55688
Bonk price

Bitcoin price rises as investors turn to self-custody

bitcoin-price-rises-as-investors-turn-to-self-custody
Edited by
Markets
Bitcoin price rises as investors turn to self-custody

On-chain data shows that bitcoin (BTC) has entered the accumulation phase over the past few months despite the high price fluctuations.

According to data provided by Glassnode, the number of bitcoins on exchanges has been constantly falling since May and recently plunged to 2.2 million coins, marking a five-year low.

https://twitter.com/glassnodealerts/status/1679011623107788801?t=mAgcUUYajSyFPCZQzSNmSA&s=19

The BTC balance on exchanges is currently worth $69 billion. The movement shows that investors are transitioning their assets to non-custodial wallets, addressing long-term investments.

Moreover, according to Glassnode, the bitcoin balance on exchanges was at one of its highest points, around 3.2 million coins, in early 2020, when BTC was trading at $5,380.

Bitcoin is up by 0.6% in the past 24 hours and trading at $30,700 at the time of writing. However, the asset’s 24-hour trading volume is down by more than 20%, standing at $11.8 billion with a total market capitalization of $596.8 billion — dominating 50% of the global crypto market value.

Bitcoin price rises as investors turn to self-custody - 1
BTC price – July 12 | Source: Trading View

The digital gold has been consolidating between the $30,000 and $31,000 mark over the past three weeks after witnessing significant pressure in June.

Moreover, the accumulation phase comes as the number of new Bitcoin addresses hit a three-month high of 20,360.