On-chain data shows Bitcoin exchange reserves have hit the lowest value in 3 years, here’s what it might mean for BTC’s price.
Bitcoin Exchange Reserves Lowest In 3 Years As Negative Netflows Continue
As pointed out by a CryptoQuant post, exchange reserves have been continuing their downtrend, and have now reached lows not seen since 3 years ago.
The all exchanges reserve is an indicator that shows the total amount of Bitcoin held in wallets of all centralized exchanges.
An increase in the metric’s value suggests more investors are depositing their coins for withdrawing to fiat or altcoin purchasing. On the other hand, a decrease means more buyers are moving their BTC to personal wallets for hodling or OTC deals.
Here is the latest chart for the Bitcoin all exchanges reserve:
The BTC all exchanges reserve plunges down
As the above graph shows, the value of the indicator has sharply gone down recently. The current level of the