​Record whale accumulation precipitated latest all-time high B | Best Crypto Traders Official

​Record whale accumulation precipitated latest all-time high Bitcoin breakout
Bitcoin’s new all-time highs appear to have been triggered by a dramatic reduction in active supply over recent months.
On-chain analytics provider Glassnode identified the milestone in its Monday “The Week On-Chain” report concluding, “Investors are just not spending their coins.”
Addresses that have not moved their BTC in 12 months, dubbed “long-term holders” (LTH), are among those most actively stockpiling coins -with said addresses moving just 6,500 BTC daily.
The trend of accumulation does not appear to be slowing down, with the share of supply held on centralized exchanges also dropping to a record low of 12.9% as BTC is increasingly placed into secure storage.
Glassnode reports that more than 5,000 BTC (approximately $338.6 million) was withdrawn from centralized trading venues during last week.
The report asserted:
“The market is likely still in the quiet accumulation phase, punctuated by low activity, large exchange outflows, and very modest strategic spending by experienced holders.”
Bitcoin broke into new all-time highs above $67,000 on Monday, with its market capitalization also surpassing Tesla’s and Facebook’s.