Exchange Reserves going parabolic (to the downside) and making a 4.5 year low✌

Exchange-Reserves-going-parabolic-to-the-downside-and-making-a-45-year-low

As the title describes, there are some very interesting changes in the Bitcoin Exchange Reserves. On 07 November 2022, a significant amount of Bitcoin moved outside the Exchanges' wallet. A big part of them are withdrawals from FTX and Coinbase Pro.

Looking in more detail at the Exchange Reserves, we can conclude that it has dropped from 2,304,000 BTC to 2,265,000 BTC. This is a difference of 39.000 BTC. 

That new amount of Bitcoin Reserves on Exchanges (2,265,000 BTC) is the lowest value in 4.5 years. We have to go back all the way to 21 March 2018 to find the equal number. 

While having knowledge of all risks and uncertainty in the crypto market and global markets, this is an absolutely incredible sign of confidence in the Bitcoin network.

Disclaimer: part of the withdrawals is coming from FTX. Given the recent events, this could fluctuate heavily in the coming period. This might affect this metric.