Bitcoin holders withdrawing from exchanges “like never before”

Bitcoin investors have been moving their stashes off crypto exchanges frantically, as reported by Arcane Research in a recently published tweet. Arcane Research mentions that issues with lenders have done serious damage to users and assumed that they might be losing trust in crypto exchanges.

In June, 119,000 BTC was moved off of exchanges. In July, they withdrew 96,000 Bitcoin, and in August, so far 65,000 BTC have been removed. According to Glassnode, the balance of Bitcoin on centralized crypto exchanges has reached a four-year low of 2,342,202.837.