Bitcoin ranges shake up as data shows more investors choose to hold firm

Bitcoin balances in major exchanges have fallen to a three-year low, according to Glassnode statistics, which could mean people are more interested in holding bitcoins for the long term rather than choosing to sell them in the near future.

"If there are a lot of bitcoins on the exchanges, it means people are ready to sell them." FRNT Financial's CEO explained, "If those bitcoins are more in private wallets, that means people are less willing to sell."

Bitcoin is currently up about 5% in 24 hours, standing at the $43,000 mark, and the cryptocurrency has been fluctuating within a range for the past three months.