Bitcoin's supply on crypto exchanges has dropped to its lowest level in over five years, with only 5.84% of Bitcoin on exchanges, indicating that traders and investors are increasingly turning to self-custody. This trend of moving digital assets off exchanges and into personal crypto wallets represents a growing need for investors to have full control over their cryptocurrency assets and provide assurance that they are safe. This could be a bullish sign, indicating a substantial buying trend, as continued accumulation by hodlers could cause the price of Bitcoin to rise. Despite briefly breaking through the $28,000 level, Bitcoin's negative trend has continued, with the cryptocurrency losing 7.45% of its value in the past month.
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