The recent fall in the value of Bitcoin did not scare long-term investors, who are often called hodlers. They continued to buy crypto and even stepped up during a deeper correction in order to purchase coins at comfortable prices.
At the end of January, BTC fell to $33,100 amid a massive exit of capital from risky assets.
Since then, the crypto has regained some ground. According to data from the Glassnode, hodlers have bought the fall and withdrawn the coins to offline wallets.
A similar situation was observed in April last year, that is, before the famous BTC surge to $69,000.
GlobalBlock analyst Markus Sotiriou said:
“The share of Bitcoins on exchanges continues to decline. Since the $69,000 record, Glassnode has figured out that 42,900 Bitcoins have left the exchanges.”