CryptoQuant: Bitcoin exchange reserves fall to lowest level in years

According to The Block report, the Bitcoin exchange reserves have plummeted to the lowest level in years. CryptoQuant data shows that since November 5, when Trump won the US election, more than 171,000 Bitcoins have been withdrawn from major . This trend has reduced the circulating supply of Bitcoin, indicating that investors are transferring their holdings to cold wallets, which may be part of their long-term strategy. CryptoQuant said that the exchange reserves were around 3.2 million Bitcoins in October 2021, but have now dropped to 2.46 million, the lowest level in years. Similarly, Glassnode's data shows that its illiquid supply metric (Bitcoins held by long-term investors and not actively traded) has increased by 185,000 in the past 30 days, reaching a record 14.8 million Bitcoins. This accounts for about 75% of the current circulating supply (around 19.79 million).