Bitcoin Exchange Reserves Fall to Lowest Level Since October 2021
On Oct. 17, bitcoin exchange reserves fell to their lowest level since October 2021, according to CryptoQuant data, suggesting that more investors are moving bitcoin from exchanges to cold wallets, possibly as a long-term holding strategy. This trend is driven by increased institutional demand, particularly the accumulation of bitcoin from new whales. Market buying pressure continues to rise as ETF approvals and the halving of bitcoin approach.CryptoQuant analysis suggests that the decline in Coinbase reserves is mainly due to institutional players moving funds to escrow wallets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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