This is the first cycle where balances on Exchanges have gone down...

in #bitcoin • last year

We have seen the BTC balances on Exchanges drop before, but never for a full 4 year cycle...

This is interesting...

The next halving is quickly approaching and balances of bitcoin on Exchanges is continuing to fall and stay low.

Relatively speaking.

In a 4 year cycle we have never had balances at Exchanges drop for the entire 4 years, until now:

image.png

(Source: https://twitter.com/_AustinHerbert/status/1662488394637746177/photo/1)

This may be good news for a big price move post halving.

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    Maybe they haven't recognised all exchange wallets and there is new exchanges that have all the missing coins ;)

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