Sales of Bitcoin by Medium-Term Investors Decreased by 36%

Since mid-August, Bitcoin has shown an upward trend, sharply reducing the sales of medium-term investors. According to data from CryptoQuant, the exchange activities of investors holding Bitcoin for 6 to 12 months show significant changes. In June, 40% of the Bitcoin moved by this group went to exchanges, while this rate has now dropped to 4.4%. This indicates a 36% decrease in the amount of Bitcoin sent to exchanges. In June, Bitcoin had reached a cycle low of $58,000. Although there has been a decrease in the number of Bitcoins sent to exchanges, no decline has been observed in the number of Bitcoins transferred between wallets. During the June to October period, the monthly amount of Bitcoin moved by this investor group ranged between 143,700 and 216,500 BTC. Experts indicate that the Bitcoins not sent to exchanges are due to wallet changes. Additionally, it is stated that a large portion of this group made their purchases during last year's rallies.

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