One of the reasons for the rise in the price of Bitcoin (BTC) along with increased interest and the entry of ETF funds is this.

Most of those who have amounts of BTC on exchanges have withdrawn their amounts from them. As secure and active as exchanges may be, with users and stability, most have opted to withdraw to private wallets to avoid the risk of losing their very valuable digital assets, which will undoubtedly become even more valuable.

And most understand that the price will be higher, and they do not want to sell at these prices even though the current price is not even remotely low and favorable. Over a billion dollars in value has been withdrawn, and this is just on one exchange, and the same is likely to happen, if it hasn’t already, on other exchanges.

This information was shared by CryptoQuant, which stated in its report that over 18,000 BTC had been withdrawn over the past few days. This will further reduce the already weak selling pressure, and with greater buying interest and weaker selling pressure, we could quickly see a new rise in BTC and the entire crypto market.

Currently, BTC is trading around $52,000 USD.