There are fewer and fewer Bitcoins on exchanges, and they are almost snatched up by ETFs and whales who are buying at the bottom. The air force is still firing shorts every day, trying to continue to short and explode longs. Be careful.
Since July 3, the overall Bitcoin reserves of exchanges have dropped sharply, with an outflow of $4 billion
Cryptoquant.com data shows that the Bitcoin reserves of centralized exchanges have dropped from 2,848,539 BTC to 2,777,573 BTC, which is the lowest level of Bitcoin reserves since November 2018. Since July 3, 70,966 BTC (worth $4 billion) have flowed out of exchanges. Among exchanges, despite the inflow of funds from the German government, Coinbase has experienced an outflow of 12,585 BTC in the past 40 days. Data from Arkham Intelligence shows that during the same period, Binance's BTC holdings rose from 642,528 BTC on June 1 to 672,610 BTC after an additional 30,082 BTC inflows. According to Arkham, Robinhood's crypto arm's BTC holdings increased by 4,001 BTC from 139,462 on June 1 to 143,463 BTC. Fidelity Digital Custody has been withdrawing BTC from exchanges in large quantities and currently holds 292,224 BTC. Notably, Fidelity Digital Assets does not use Coinbase to hold its ETFs, and its ETF FBTC holds 174,436.78 BTC. Data from Cryptoquant.com also shows that miners have reduced their holdings by 2,368 BTC since June 29. Market makers and over-the-counter (OTC) exchanges, including Flow Traders, Cumberland, and Wintermute, have all experienced significant BTC reserve growth over the past month. $BTC
