111k BTC have been taken off exchanges in the past three months alone. One of the highest rates in the past years, people are finally taking self-custody seriously.

The central message of this bear market will no doubt be "self-custody", after the countless exchanges that have been exposed to be scams and then abruptly crashed and burned, causing all the customer funds to be taken with them (in most cases they never had all anyway). People now seemed to have learned their expensive lesson.

So self-custody is on the rise now and that especially this year. In the last three months alone we had a staggering 111k BTC being taken off exchanges by users. That's about a massive $2.8B.

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Chart showing the 111k BTC outflow from exchanges (picture from MitchellHODL)

Here we can see how since even 2020 there has been a constant decrease in the supply on exchanges. During the bull market it was largely due to millions of people buying and some of them actually taking them off exchanges. But with no demand right now, we can be sure that the decrease is mostly happening due to people that had already bought and are now taking self-custody of their assets.

Some may have taken quite some time, but realizing their mistakes now is better than realizing them never.