According to the Daily Planet, according to CryptoQuant data, as of the end of August, centralized exchanges held 2,010,346 bitcoins, a decrease of 86,305 from the beginning of the month, a decrease of 4.1%, the lowest level since January 2018.
The reduction in the supply of Bitcoin held on exchanges indicates that investors are confident in the long-term prospects of Bitcoin, which can also be interpreted as traders waiting for more favorable market conditions before selling. Adam Mourad, a data analyst at CryptoQuant, said: "The large amount of Bitcoin transferred from trading platforms to secure cold wallets highlights the confidence of long-term investors."
