Santiment: The proportion of bitcoin reserves held by exchanges has dropped to its lowest level since November 2017

ChainCatcher news, on-chain analytics platform Santiment posted on X, stating that according to traceable wallet data, the proportion of bitcoin stored on exchanges has dropped to its lowest level. Over the past eight years, both the crypto market and the global macro environment have undergone significant changes, while the ratio of bitcoin reserves on exchanges has continued to decline. This is generally regarded by the market as a signal of strengthened long-term holding tendencies and reduced circulating selling pressure.