According to BlockBeats, on July 5th, data from Coinglass indicated that the Bitcoin balance on CEX was 2.4675 million on June 21st, reaching a nearly one-year low. As of the time of writing, the current Bitcoin balance on CEX has increased to 2.4966 million. Over the past two weeks, it has increased by nearly 30,000.
The Bitcoin balance on CEX, a cryptocurrency exchange, is a key indicator of the amount of Bitcoin available for trading. A lower balance suggests that fewer Bitcoins are available for buying and selling, which could potentially impact the market dynamics. The recent increase in the Bitcoin balance on CEX indicates a potential increase in trading activity.
It is important to note that the Bitcoin balance on CEX can fluctuate due to a variety of factors, including market conditions, investor sentiment, and regulatory developments. Therefore, while the recent increase in the Bitcoin balance on CEX is noteworthy, it does not necessarily predict future market trends.