Bitcoin exchange reserves fall to multi-year low

Odaily News CryptoQuant data shows that Bitcoin trading platform reserves have fallen to the lowest level since October 2021. The data shows that more than 51,000 bitcoins have been withdrawn from major cryptocurrency trading platforms in the past month. This trend reduces the liquid supply of Bitcoin and indicates that investors are withdrawing their Bitcoin as part of a long-term holding strategy. This outflow of Bitcoin from trading platforms to cold wallets is a multi-year trend, perhaps driven by factors such as rising Bitcoin prices, approval of spot Bitcoin ETFs, and expectations of Bitcoin halving. (The Block)