BTC Reserves on Exchanges Down Nearly 38,000 Since September, Reaching Levels Last Seen in Mid-November 2018
According to Golden Finance, CryptoQuant data reveals a significant decline in BTC holdings on exchanges as of September 16th, reaching levels last seen in mid-November 2018. Since the beginning of the month, BTC exchange reserves have dropped from approximately 2.62 million to 2.58 million, a decrease of nearly 38,000 coins in just two weeks.
The annual trend indicates an even larger decline, with BTC exchange reserves shrinking by about 430,000 coins since the beginning of the year. This lower indicator suggests a preference for long-term holding over short-term trading. This behavior can amplify BTC price volatility, particularly when supply is constrained and demand surges.