TechFlow reports, according to Arcane Research, that BTC balances on exchanges have significantly declined this year. From January 2018 to February 2020, BTC balances on exchanges rose steadily. However, since February this year, the total amount of BTC on exchanges has dropped by 21.66%, reaching the lowest level in two years. This may be due to exchange security concerns, but some believe it reflects new BTC buyers becoming long-term holders, with the self-custody trend continuing to drive demand.
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