As the crypto winter deepens, only the staunchest Bitcoin investors are still holding onto their tokens -- but not on the exchanges.
As the crypto winter deepens, only the staunchest Bitcoin investors are still holding onto their tokens -- but not on the exchanges.
Investors in the world’s biggest cryptocurrency are going into hibernation mode with on-chain activity dropping by 13% in early July from November’s highs -- levels last seen in the bear phases of 2018 and 2019 when Bitcoin was worth less than $10,000 -- according to a Glassnode analysis.
The risk-off market mood is spreading to the cryptocurrency exchanges as investors withdraw and stow their coins off-line in crypto wallets instead. The exchanges have seen their balances drop more than 20% from a Jan. 20 peak, according to Glassnode.
“Bitcoin has seen a near complete expulsion of market tourists, leaving the resolve of HODLers as the last line standing,” according to a Glassnode newsletter dated July 4. Bitcoin fell...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...