Bitcoin Holders Cut Exchange Transfers Sharply as Selling Pressure Eases

Bitcoin $BTC holders who acquired their coins six to twelve months ago have significantly reduced the share of their transfers directed toward exchanges, according to CryptoQuant.
Exchange-bound transfers reportedly accounted for 40.4% of this group's activity in June but have since fallen to just 4.4%.
The decline suggests that these holders are becoming less inclined to move Bitcoin onto trading platforms, potentially reducing one source of near-term selling pressure.
However, lower exchange inflows do not guarantee price appreciation. Transfers between private wallets, custody arrangements and other market participants can influence the data, while overall demand remains critical to Bitcoin's price direction.