The number of Bitcoin held on exchanges significantly declined in September, dropping to levels last seen in mid-November 2018.
Since the beginning of the month, Bitcoin exchange reserves have dropped from approximately 2.62 million BTC to 2.58 million BTC. This decline of nearly 38,000 BTC in just over two weeks follows a continued trend of Bitcoin flowing out of exchanges at an accelerated pace.
Graph showing the total number of Bitcoin held on exchanges from Sep. 1 to Sep. 16, 2024 (Source: CryptoQuant)
The yearly trend shows an even larger drop, with reserves having reduced by about 430,000 BTC since the beginning of the year.
Graph showing the total number of Bitcoin held on exchanges from Jan. 1 to Sep. 16, 2024 (Source: CryptoQuant)
A decrease in Bitcoin exchange reserves typically indicates that investors are moving their holdings off exchanges, opting for long-term storage in personal wallets. This action is often interpreted as a sign of confidence in Bitcoin’s future price
We współpracy z: https://cryptoslate.com/insights/bitcoin-exchange-reserves-drop-to-2018-levels/
