The BTC reserves on exchanges, whether looking at data from the past week or the past year, clearly show that the amount of Bitcoin held on exchanges is decreasing. Currently, it has hit the lowest reserve level in the past year, and if we look at a longer timeframe, this data has even refreshed the lowest reserve level since January 2021. This indicates that even during periods of poor price performance recently, investor demand for buying still outweighs selling pressure. This is one of the reasons why BTC's price remains relatively resilient. Looking at the detailed data, the top-ranking exchange in terms of holdings, Coinbase, and the second-ranking Binance, have both seen varying degrees of reductions. Even South Korea's UPbit has shown slight signs of reducing its holdings. This suggests that, whether in the East or the West, there is a fairly high level of consistency when it comes to buying the dip in BTC. Sponsored by Bitget ｜ @Bitget_zh