Analysis: Crypto exchange BTC trading balance is at its lowest level in nearly 8 months

According to NewsBTC news, on-chain analysis company Glassnode said that in recent times, a large number of bitcoin outflows from cryptocurrency exchanges have caused the bitcoin transaction balances of these exchanges to drop to their lowest level in about eight months. Despite volatility, Bitcoin holders appear to be withdrawing funds from exchanges. This seems to indicate that retail investors who have been accumulating bitcoin in the recent downtrend are now transferring bitcoin into cold wallets, which is a sign of optimism that the next round of explosive volatility will benefit buyers.