Exchange BTC Reserves Drop by Nearly 38,000 in September, Reaching Mid-November 2018 Levels

BY admin user

According to data from CryptoQuant, as of September 16, Bitcoin (BTC) reserves on exchanges have significantly declined, reaching levels last seen in mid-November 2018. Since the beginning of the month, exchange BTC reserves have decreased from around 2.62 million to 2.58 million, marking a drop of nearly 38,000 BTC in just two weeks.

The annual trend indicates an even steeper decline. Since the start of the year, BTC reserves on exchanges have decreased by approximately 430,000 BTC. Lower exchange reserves suggest that investors are opting to hold BTC for the long term rather than engage in short-term trading. This behavior can increase BTC price volatility, particularly when supply is limited and demand surges.

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