Recent data from Cryptoquant reveals that Bitcoin reserves on centralized exchanges have dropped to their lowest levels since November 2018.

This decline, which began in earnest in June 2022, has intensified over the past month, with 99,308 BTC, valued at approximately $5.96 billion, being withdrawn from exchanges. As of August 11, 2024, the total Bitcoin reserves on these platforms stand at 2,679,880 BTC, valued at roughly $161 billion.