BTC Reserves on Exchanges Drop Nearly 38,000 Since September, Reaching Lowest Level Since Mid-November 2018
CryptoQuant data reveals that as of September 16th, the amount of BTC held on exchanges has plummeted to 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, marking a decrease of nearly 38,000 coins in just two weeks. The annual trend showcases an even larger decline, with BTC exchange reserves shrinking by about 430,000 coins since the start of this year. This lower indicator suggests a market leaning towards long-term holding rather than short-term trading. Such behavior can amplify BTC price volatility, particularly when supply is limited and demand surges. (CryptoSlate)