The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120Btc.COM) News: Bitcoin once reached nearly US$53,000 on the 20th, setting a new high since November 2021, but then began to fall back and fluctuate, and has continued to fluctuate between US$51,000 and US$52,000 in recent days. Fluctuating within a narrow range, it once fell to $50,625 last night, but the latest on-chain data shows that market sentiment is still optimistic.

 **Selling speed of long-term holders dropped sharply**

IntoTheBlock data shows that since the beginning of this year, long-term Bitcoin holders have sold a total of about 200,000 Bitcoins. This selling trend has continued for nearly three months, and the Bitcoin holdings of long-term holders have increased during this period. Continuous decline.

Changes in holdings of long-term Bitcoin holders

Despite the sell-off, IntoTheBlock noted that this was "typical long-term holder activity" during a bull market and that the pace of selling was a marked difference compared to previous bull markets, during which long-term holders' holdings It has decreased by about 15%, but the current holdings have only decreased by about 1.5%.

The massive accumulation of coins by various investors offset the impact of the sell-off, said Ki Young, CEO of Crypto Quant
Ju released data showing that Bitcoin hoarding addresses had an inflow of 25,300 BTC on the 21st, setting a record high.

Eligible conditions for currency hoarding addresses must include no outgoing transactions, a balance of more than 10 BTC, not belonging to a centralized exchange (CEX) or miner account, having received more than two transfer transactions, and the most recent transaction occurred within the past 7 years, etc. .

 **Exchange balance drops to lowest level since 2018**

In addition, since mid-March 2020, the number of Bitcoins held by exchanges has begun to decline significantly, indicating a change in investor behavior. In the past, exchanges held a peak of more than 17% of the Bitcoin supply in 2020. But it has continued to decline since then, showing a trend of investors transferring coins out of exchanges and continuing to accumulate coins.

According to Glassnode data, since the beginning of this year, Bitcoin holdings on exchanges have continued to decrease. From January 1 to February 19, the Bitcoin balance in exchange wallets has dropped from 2.356 million BTC to 2.314 million BTC. BTC, reaching the lowest level since April 2018, which has caused the exchange’s share of the Bitcoin supply to drop to 11.79% from 12.03% at the beginning of this year.

Bitcoin holdings on exchanges

Bitcoin is about to usher in its fourth halving in April this year. Looking back on the past three halvings, the price of Bitcoin will rise significantly. Anthony, founder of Tianqiao Capital
Scaramucci predicted last month that Bitcoin would soar to at least $170,000 after the halving, and would reach $400,000 in the future.