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September 21, 2020
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Bitcoin price recovers sharply, but cryptocurrency exchange BTC deposits have dropped significantly

It was found that the increase in own ownership in the wallet or the amount of BTC deposits on the cryptocurrency (crypto asset) exchange dropped sharply during the rebound process of the BTC price. Arcane Research, a cryptocurrency analyst, pointed out that the amount of Bitcoin deposited on the exchange is decreasing from the data of Glassnode.
It shows the opposite direction of the recovery trend of the bitcoin price from March, and for the purpose of long-term holding, it uses custody services such as Bakkt which operates a virtual currency management and storage service and cold wallet Storage is increasing …

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