In the week leading up to April 4, $368 million in bitcoins was sent to personal wallets, according to a report from bank specialists.
“Investors move tokens from exchange wallets to their personal wallets when they intend to hold BTC for a long time, indicating a possible decrease in selling pressure,” BofA analysts said.
Concerns about U.S. regulatory action on digital asset platforms may have accelerated flows from exchanges.
Bitcoin climbed above $30,000 this week for the first time since June 2022. The first cryptocurrency has risen by more than 80% since December 31st.
According to Ahrefs, internet users in the US are more likely to search the internet for information about Bitcoin than about the controversial former president Donald Trump or even Elvis Presley. The world’s first on-demand cryptocurrency bypassed topics such as politics, Coca-Cola, religion, donuts, alimony and healthcare.
Source: Bits
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