PANews reported on October 17 that according to CryptoQuant data, Bitcoin exchange reserves have fallen to the lowest level since October 2021, indicating that more and more investors are transferring Bitcoin from exchanges to cold wallets, possibly as a long-term holding strategy. This trend is driven by increased institutional demand, especially the accumulation of Bitcoin by new whales. With the approval of ETFs and the approaching Bitcoin halving, market buying pressure continues to rise. CryptoQuant analysis said that the decline in Coinbase reserves is mainly due to institutional players transferring funds to custodial wallets.
