The Bitcoin reserve in centralized exchanges (CEXs) has dropped below 2,708,000 BTC, marking the lowest level since November 2018. This decline is part of a broader trend where Bitcoin balances on these exchanges have been decreasing for several years, a trend that has accelerated recently due to investor withdrawals. Contributing to this shift, post-halving supply constraints and a growing tendency among market participants to hold Bitcoin in long-term storage off exchanges reflect a bearish sentiment in the market.
Bitcoin reserves on CEXs drop below 2.7M, lowest since Nov 2018
