Centralized Exchanges BTC Balance Hits New Low Since 2018

TokenInsight news, according to Glassnode, centralized cryptocurrency exchange BTC balances continued to decline last week (about 13.0% of circulating supply) and reached a multi-year low, and are now back to February 2018 levels when bitcoin prices were between $6,000 and $10,000. These observations are positively supported by the deeply negative net exchange flows (outflows) last week, with bitcoin outflows currently at a rate of -92,000 coins/month. In fact, the crypto market clearly shifted its paradigm after March 2020, from net exchange inflows to exchange outflows.