Binance, Coinbase Bitcoin Reserves Fast-Dropping, Is This Bullish?

Binance, Coinbase Bitcoin Reserves Fast-Dropping, Is This Bullish?

According to CryptoQuant’s data on May 10, Bitcoin reserves in centralized exchanges such as Binance and Coinbase experienced a significant decline in Q4 2022. The reserves remained stable in April despite the prices soaring from $20,000 to $31,000 during that period.

Exchange Bitcoin Reserves Rapidly Shrinking

Bitcoin exchange “reserves” is a metric that tracks the amount of BTC held by centralized exchanges at any given time. Typically, the interaction between coin holders and exchanges can be used to gauge sentiment and their price expectation of the coin shortly. 

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An example of reserves falling is when there is a sudden outflow from exchanges. This could indicate that users are optimistic and store their assets in non-custodial wallets. However, it’s important to note that this may not

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