Bitcoin exchange balance drops to lowest level since April 2018

According to Glassnode data, since mid-March 2020, the amount of Bitcoin stored in exchange wallets has significantly decreased, signaling a major shift in investor behavior. At that time, over 17% of the total Bitcoin supply was held on exchanges, reaching a historical high. The trend of decreasing exchange balances has continued even during the Bitcoin bull market in 2021 and is expected to persist until 2024. So far this year, the amount of Bitcoin held on exchanges has continued to decline. From January 1st to February 19th, the number of Bitcoins in exchange wallets dropped from 2.356 million BTC to 2.314 million BTC, marking the lowest level since April 2018.