Binance Bitcoin Holdings Reach Three-Year Low

CryptoQuant's recent assessment of the Bitcoin market reveals a notable shift in investor behavior. The 365-day simple moving average (SMA 365) of Bitcoin Exchange Supply Ratio on Binance has decreased to its lowest point since early 2023, indicating a significant decline in the amount of Bitcoin stored on the exchange.

This trend is characterized by investors withdrawing their Bitcoin from exchanges and transferring it to cold wallets or individual custody solutions. As a result, the selling tendency among market participants appears to be weakening, while the long-term holding (HODL) strategy is gaining strength.