The amount of bitcoin stored on centralized crypto exchanges has fallen over the past 60 days, according to a crypto analyst at HODL 15Capital, more than 200,000 BTC were withdrawn from the platforms, which indicates a change in market sentiment.
The largest outflow of bitcoins was recorded by the crypto exchange Coinbase, which lost 86 coins in two months. Currently, the platform has 316 BTC on its balance sheet. Binance investors withdrew 42 bitcoins, leaving 865 coins in the exchange's accounts. Over the past 558 days Creak lost 13 BTC, Gemini — 10 BTC, and Upbit — 6 BTC. During the same period, cryptocurrency platforms Bitfinex and Robinhood recorded an outflow of 9023 BTC and 2100 BTC, respectively.
Currently, the total balance of bitcoins on all exchanges is 2 coins.
Data from the Coinglass service shows that the inflow and outflow of bitcoins has a clear pattern. At the beginning of the year, the market sentiment was neutral, so these indicators were balanced. However, as the rate of the flagship cryptocurrency grew, the outflow of coins increased.
The reduction in Bitcoin reserves on exchanges corresponds to the general trend of the crypto market. Over the past month, the rate of the flagship asset has grown by more than 10%. However, over the past 2,2 hours, BTC has fallen by 102,500% and at the time of writing was trading at $XNUMX.