Bitcoins balance on exchanges is on the lowest level within recent 21 months

Bitfinex lost around two thirds of its crypto funds for the same time frame.

Based on info from Glassnode, the exchanges they monitor have for present moment 2.6 million Bitcoin. The amount is the lowest one since November 2018.

Bitcoin balances on exchanges. Taken from: Glassnode.

The trend when users started their funds withdrawal from the exchanges has first appeared after Black Thursday. Nearly 300,000 BTC has been taken from the exchanges and this has turned into mass outflow. This might be treated as a bullish indicator, meaning that users might not plan selling their assets. The recent movement corresponds with the recent bull run which confirmed that the price of Bitcoin recover from below $5,000 to almost $12,000.

Though, not all exchanges have born the same losses. Some have been bitten more than others. For instance, Bitfinex had nearly 200,000 BTC in its storages prior to Black Thursday, while now they have 60,000 BTC only.

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