A new record was recorded in the background of the decrease in liquidity and a large amount of withdrawal of assets from the central crypto exchanges. According to analytical platforms, the amount of Bitcoin in the stock exchanges fell to the lowest level of the last six years.
Experts attribute this to investors’ long -term storage strategy (transporting funds to cold wallets). This trend traditionally causes the supply in the market to decrease and increase the price of assets.
The new high level left behind a previous record of $ 124,500 on August 14th. After the autumn correction of Bitcoin’s value lost approximately 13.5 %, October was a recovery month.
The crypto currency was traded for $ 125,100, exhibiting strong growth and strengthens its status as an important digital asset in the market.
Source: Ferra
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