#Bitcoin reserves on exchanges fall to the lowest level in more than 5 years⚠️
With regulatory pressures against Binance and Coinbase, investors may be fleeing third-party custody.
Outflow remains intense, although they still hold around 2.12M #BTC.
This movement helps to increase the adoption of self-custody, however, it reduces the volume of trading on these platforms, something that consequently also reduces the total liquidity of the order books.
Something that ends up contributing to the current lateralization seen in the price of bitcoin.
Since there are fewer orders and less capital being traded, there is less directional influence on price.
This also brings a risk aversion bias, although at this moment the main risk is not due to the structure of the market, but due to the uncertainties surrounding these platforms.
The Rabbit Hole /
npub1zt…9x9za
2023-06-14 15:02:10
Author Public Key
npub1ztdt0nvu8324tg40g4ts8d6englps8w6574zyq2gkdvcrx364y0qd9x9zaPublished at
2023-06-14 15:02:10Event JSON
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"content": "#Bitcoin reserves on exchanges fall to the lowest level in more than 5 years⚠️\n\nWith regulatory pressures against Binance and Coinbase, investors may be fleeing third-party custody.\n\nOutflow remains intense, although they still hold around 2.12M #BTC.\n\nThis movement helps to increase the adoption of self-custody, however, it reduces the volume of trading on these platforms, something that consequently also reduces the total liquidity of the order books.\n\nSomething that ends up contributing to the current lateralization seen in the price of bitcoin.\n\nSince there are fewer orders and less capital being traded, there is less directional influence on price.\n\nThis also brings a risk aversion bias, although at this moment the main risk is not due to the structure of the market, but due to the uncertainties surrounding these platforms.",
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}