Since July 3, the overall Bitcoin reserves of exchanges have dropped significantly, with outflows reaching $4 billion

Odaily News Cryptoquant.com data shows that centralized exchanges’ Bitcoin reserves fell from 2,848,539 BTC to 2,777,573 BTC, the lowest level of Bitcoin reserves since November 2018. Since July 3, 70,966 BTC (worth $4 billion) have flowed out of exchanges. Among exchanges, Coinbase has experienced an outflow of 12,585 BTC in the past 40 days despite the inflow of funds from the German government. Data from Arkham Intelligence shows that during the same period, Binance’s BTC holdings rose from 642,528 BTC on June 1 to 672,610 BTC after an additional 30,082 BTC inflow. According to Arkham, Robinhood’s cryptocurrency division’s BTC holdings increased by 4,001 BTC from 139,462 on June 1 to 143,463 BTC. Fidelity Digital Custody has been withdrawing BTC from exchanges in large quantities and currently holds 292,224 BTC. It is worth noting that Fidelity Digital Assets does not use Coinbase to hold its ETF, and its ETF FBTC holds 174,436.78 BTC. Data from Cryptoquant.com also shows that miners have reduced their holdings by 2,368 BTC since June 29. Market makers and over-the-counter (OTC) exchanges, including Flow Traders, Cumberland, and Wintermute, have all experienced significant BTC reserve growth in the past month. (Bitcoin.com)