Aug 9, 2023

Data from Glassnode shows that bitcoin's (BTC) balance on exchanges reached a 5 year low of 2,276,878 BTC.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at the chart of the day. Bitcoin's balance on exchanges just reached a five year low according to new data from glass, not 2,276,878. Bitcoin currently reside on exchanges with more than 19 million coins in circulation. This data suggests that more and more investors are opting for self custody and are holding on to their Bitcoin instead of trading or selling the largest Cryptocurrency by market cap is currently trading around $29.7000 breaking the $30,000 mark earlier today with the possibility of a spot Bitcoin ETF approval sometime this year. And crypto bills before congress investors might be holing in anticipation of a catalyst that could kick off the next bull market. That's it for today's chart of the day. I'm Jenna and we'll see you next time to unpack more of the data behind top news stories.

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