Santiment: The proportion of Bitcoin reserves on exchanges has fallen to the lowest level since November 2017

The on-chain analysis platform Santiment posted on X platform that, according to traceable wallet data, the proportion of Bitcoin stored on exchanges has dropped to its lowest level. Over the past eight years, both the crypto market and the global macro environment have undergone significant changes, while the proportion of Bitcoin reserves on exchanges has continued to decline, which is generally seen by the market as one of the signals of increased long-term holding tendency and reduced circulating selling pressure.