Bitcoin exchange balances decline to five-year low, major outflows from Binance and Coinbase signal long-term holding strategies

Onchain Highlights DEFINITION: Balances on exchanges are the total amount of coins held on exchange addresses. Bitcoin’s balance on exchanges has continued its downward trend, reaching a significant low. As of the latest data, the total balance on exchanges has dropped below 2.3 million BTC, a level not seen since March 2018…