According to BlockBeats, on October 17, according to chart data disclosed by Cointelegraph, the amount of Bitcoin reserves held by cryptocurrency trading platforms is now reported at about 2.68 million, a record low.
BlockBeats Note: Exchange reserves refer to the amount of Bitcoin stored in major CEX wallets, an indicator often used to measure liquidity and market supply and demand dynamics. Higher exchange Bitcoin reserves generally mean better market liquidity and traders can buy and sell Bitcoin more easily. Monitoring changes in exchange Bitcoin reserves can help analyze market sentiment. For example, a decrease in reserves may indicate that users are withdrawing Bitcoin, possibly due to bullish sentiment; while an increase in reserves may indicate that users are depositing Bitcoin on exchanges for easier trading, which may mean bearish sentiment.
