Bitcoin exchange reserves hit a new low

The latest data shows that Bitcoin exchange reserves have fallen to a multi-year low, currently only about 2.6 million BTC, in sharp contrast to the peak of 3.2 million BTC in early 2022.

Behind this change, multiple factors are intertwined: the rise of decentralized exchanges (DEX) has made holders more inclined to self-custody.

Events such as the FTX collapse have exacerbated the trust crisis and shaken the status of centralized entities; long-term holders generally adopt cold storage, indicating that the "HODLing" strategy is prevalent.

The decline in exchange balances means that selling pressure is reduced, supply dynamics are tightened, and scarcity is enhanced, laying the foundation for price increases.

This is not only a technical shift, but also a profound evolution in the way the market views Bitcoin.

If reserves continue to decline, coupled with macro-positive factors, Bitcoin has great potential for upward movement. $BTC $ETH $BNB #HBO纪录片或揭示中本聪身份 #非农人数大幅升温 #大A香还是大饼香 #灰度拟推出AAVE信托基金 #Bitwise申请XRPETF