{"id":13813,"date":"2024-06-13T23:13:15","date_gmt":"2024-06-13T23:13:15","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=13813"},"modified":"2024-06-13T23:13:15","modified_gmt":"2024-06-13T23:13:15","slug":"investors-shifting-from-ethereum-to-bitcoin-data-indicates-a-possibility","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/investors-shifting-from-ethereum-to-bitcoin-data-indicates-a-possibility\/","title":{"rendered":"Investors Shifting from Ethereum to Bitcoin? Data Indicates a Possibility"},"content":{"rendered":"\n

Recent on-chain data suggests that there has been a divergence in the exchange supplies of Bitcoin and Ethereum, hinting at a potential rotation in the market.<\/p>\n

<\/span>Bitcoin’s Exchange Supply Declines as Ethereum’s Rises<\/span><\/h2>\n

Information from the on-chain analytics company Santiment<\/a> reveals that the Supply on Exchanges metric for Bitcoin hit its lowest point since December 2021.<\/p>\n

This metric monitors the total volume of a cryptocurrency’s supply held in wallets linked to centralized exchanges.<\/p>\n

An uptick in the metric signifies that investors are depositing the asset on these platforms, typically to engage in trading or other services provided by the exchanges.<\/p>\n

Conversely, a drop in the indicator suggests that investors are withdrawing coins from exchanges, possibly for long-term holding purposes.<\/p>\n

An illustration displays the trends in Supply on Exchanges for the top three cryptocurrencies by market cap: Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).<\/p>\n

<\/p>\n

The chart depicts a significant decrease in Bitcoin exchange supply in recent months, hitting 942,170 BTC, the lowest level since December 2021.<\/p>\n

Simultaneously, Ethereum and Tether have experienced net deposits, indicating potential trading activity.<\/p>\n

The contrasting movements in Bitcoin, Ethereum, and Tether supplies on exchanges suggest a rotation of capital, which could pose bearish implications for Ethereum.<\/p>\n

USDT, being a stablecoin pegged to the US dollar, remains unaffected by exchange inflows. These inflows are perceived positively for the market, as they suggest the readiness of investors to redeploy capital.<\/p>\n

Despite the decline in Bitcoin’s exchange supply, its price has been consolidating sideways in recent months.<\/p>\n

<\/span>Bitcoin Price<\/span><\/h2>\n

Currently, Bitcoin hovers around $67,900, showing a nearly 5% decrease over the past week.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent on-chain data suggests that there has been a divergence in the exchange supplies of Bitcoin and Ethereum, hinting at a potential rotation in the market. Bitcoin’s Exchange Supply Declines as Ethereum’s Rises Information from the on-chain analytics company Santiment reveals that the Supply on Exchanges metric for Bitcoin hit its lowest point since December […]<\/p>\n","protected":false},"author":1,"featured_media":13814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Investors Shifting from Ethereum to Bitcoin? Data Indicates a Possibility - Bitrabo","description":"Recent on-chain data suggests that there has been a divergence in the exchange supplies of Bitcoin and Ethereum, hinting at a potential rotation in the market."},"footnotes":""},"categories":[316],"tags":[448,1231,2614,768,464],"class_list":["post-13813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-data","tag-ditching","tag-ethereum","tag-investors"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=13813"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/13814"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=13813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=13813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=13813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}