BTC and ETH Centralized Exchange Balances Hit Multi-Year Lows

Odaily reports that Bitcoin and ether balances on centralized exchanges have fallen to multi-year lows. Analysts indicate that as a large amount of crypto assets have shifted to institutional custody, ETFs, DeFi protocols, and other on-chain uses, the reliability of this metric as a price signal has declined. At the same time, an increasing amount of Bitcoin and ether is being locked up by companies seeking long-term price appreciation. (CoinDesk).