Why Bitcoin [BTC] investors are confused between two poles right now

ambcrypto.com:

The recent fall in Bitcoin [BTC] exchange reserves may have left the top-ranked cryptocurrency’s investors in a lot of confusion. In fact, based on observations made by Maartunn, a CryptoQuant analyst, over 60 BTCs have left the shores of the reserves. He pointed out that all of these exited in just three days.

Additionally, the analyst noted that it was the highest amount BTC had registered in many months. Also, CryptoQuant revealed that the BTC reserves, which were 2,305,182 on 29 September, had fallen. In fact, following a significant decline, the same had depreciated to 2,266,865 at press time.

Source: CryptoQuant

On one hand, the outflows could result in a massive sell-off. However, Maartunn had other opinions. The analyst claimed that occurrences like these result in more market demand for BTC. 

Incidentally, it could be that his assertion is valid. With a lower coin supply on exchanges, it did not seem like investors were being pressured to narrow down their holdings.

Source: CryptoQuant

Despite the resolve to stick to HODLing, there are no clear indications that BTC has almost bottomed. While current market conditions may not be favorable, Maartunn’s assertion of greater demand does have some solid ground.

According to Glassnode, the number of addresses holding 0.01 BTC hit another all-time high (ATH). The on-chain monitoring platform noted that the previous ATH had been surpassed on 1 October. It also reported that the current ATH is as high as 10,758,931.