Bitcoin has been stealth migrating east since mid-2021, data suggests.
Bitcoin abandoned the United States during the 2022 bear market, new research suggests.on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin.The past year has seen some seismic shifts in where Bitcoin is held and traded.
Since mid-2022, the amount of the supply held and traded by U.S. entities has decreased by more than 10%. “A clear divergence is visible in the year-over-year BTC supply change based on geographical regions. The extreme dominance of US entities in 2020-21 has clearly reversed, with US supply dominance falling by 11% since mid-2022,” Glassnode researchers commented.
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