Bitcoin Remains on Hunt for $10K as Holding Sentiment Gains Strength

[Nostoman]

Investors remain confident in bitcoin’s long-term prospects despite the cryptocurrency’s struggle to pass $10,000, according to a key on-chain metric.

The seven-day moving average of the total amount of bitcoin held in exchange addresses declined to 2,313,749 on Sunday – the lowest level since December 2018, according to data from blockchain intelligence firm Glassnode.

Exchange balances have declined by nearly 13% over the last four months – a change indicative of a shift to a long-term holding strategy. “This could be related to more investors HODLing [holding], moving their funds to cold storage and/or keys they control themselves,” cryptocurrency exchange Luno noted in a weekly email update.
Read here: https://www.coindesk.com/bitcoin-hunt-10k-price-holding-sentiment-increase