CryptoQuant Data: bitcoin trading reserves fall to lowest level since 2021
According to CryptoQuant, more than 90,700 bitcoins were withdrawn from major cryptocurrency exchanges in the past month. Since 2021, when CryptoQuant began recording this metric, bitcoin trading reserves have declined by about 900,000 pieces. Also according to Glassnode data, long-time Bitcoin holders are starting to sell their assets, and as the price rises, unrealized profits held by investors increase, which can entice long-term holders to sell their cryptocurrency holdings.
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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