BTC and ETH centralized exchange balances fall to multi-year lows

Odaily reported that Bitcoin and ether balances on centralized exchanges have fallen to multi-year lows. Analysts say the metric has become less reliable as a price signal, as a large amount of crypto assets have shifted to institutional custody, ETFs, DeFi protocols, and other on-chain uses. At the same time, more Bitcoin and ether are being locked up by companies seeking long-term price appreciation (CoinDesk).