Bitcoin price is fluctuating around 80,000, has the selling increased?

Yesterday I was discussing the exchange inventory data with friends, and when I looked again today, I found that the exchange inventory of Bitcoin had fallen below 15% of the current circulating supply, and even as the price of $BTC broke through $80,000 and then retraced, there was no increase in the inventory of BTC on the exchanges.

This indicates that regardless of whether the price of Bitcoin is above $80,000 or below $80,000, there are still many holders keeping their BTC, rather than trying to move to exchanges to sell.

It is well known that BTC (native) cannot be traded directly on-chain, and even cross-chain Bitcoin has very low transaction volume on-chain; most transactions occur on exchanges. Therefore, when the inventory on exchanges decreases, it does not necessarily mean that the price of Bitcoin will rise, but it does suggest that more investors are not very interested in selling BTC.

Currently, we are in such a phase, which has lasted quite a long time, and more $BTC is transferring to long-term and high-net-worth investors.

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