The percentage of Bitcoin held on cryptocurrency exchanges has been steadily declining, reaching a low of 11.7% or 2.27 million BTC. This is the lowest percentage since December 2017, indicating a migration of Bitcoin off exchanges. Ethereum has also experienced a similar trend, with non-exchange wallets hoarding ETH and getting richer. On the price front, Bitcoin is currently trading at $30,526, showing a weekly gain of 13.95% and a monthly advance of 12.38%. The correlation between Bitcoin and technology stocks has dropped to a three-year low of 3%. This decline in correlation suggests that the crypto market is charting its own course separate from traditional markets. However, it’s important to note that this information should not be considered investment advice.
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