The Bitcoin (BTC) holdings of global cryptocurrency exchanges such as Coinbase Pro are showing a downward trend.
According to Coinglass, a cryptocurrency market data analysis firm, the Bitcoin held by Coinbase Pro has decreased by 71,922 BTC over the past 30 days, now standing at 733,058.95 BTC. During the same period, the Bitcoin held by Binance also decreased by 17,883 BTC, recording 570,371.67 BTC.
A decrease in the number of Bitcoins held by exchanges is generally interpreted as investors moving their Bitcoins to their own wallets for long-term holding, believing in a price increase.
Meanwhile, the BTC price is trading at $96,853, down 0.48% from the previous day, based on the Binance USDT market at 12:50 PM today.
