Odaily Planet Daily News According to CryptoQuant data, as of the end of August, centralized exchanges held 2,010,346 bitcoins, a decrease of 86,305 from the beginning of the month. It fell 4.1%, the lowest level since January 2018. The decrease in the supply of Bitcoin held on exchanges indicates investor confidence in Bitcoin’s long-term prospects, which could also be interpreted as traders waiting for more favorable market conditions before selling.
CryptoQuant data analyst Adam Mourad said: “The large number of Bitcoin transfers from trading platforms to secure cold wallets highlights the confidence of long-term investors.” (The Block)