Bitcoin and Ethereum user balances have dropped to levels not seen since 2020.
Glassnode data revealed that user balances of Bitcoin (BTC) and Ether (ETH) on centralized exchanges reached a four-year low as investors held out for higher prices in a bull market.
BTC balances dipped to below 2.3 million coins, valued at around $160 billion, while ETH balances have dropped below 16 million, amounting to less than $59 billion