Bitcoin’s exchange balance plummets to five-year low 
Quick Take
The balance of Bitcoin on exchanges has recently plummeted to a new record low for the year, with just 2.291 million BTC on exchanges. Data reveals that this figure is reminiscent of levels last observed in March 2018, marking a significant shift in the distribution of the cryptocurrency. Over the previous weekend, a substantial volume of Bitcoin exited the exchanges, primarily attributed to ‘whales,’ or large-scale holders of the digital asset.
The principal outflows were traced to two major cryptocurrency trading platforms, Bittrex Global and Bitstamp. This trend may indicates a more bullish sentiment among large investors as they move their holdings out of exchanges and into private wallets, presumably for long-term holding.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
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