According to Odaily Planet Daily, CryptoQuant data showed that as of September 16, BTC holdings on exchanges in September fell sharply, reaching the level of mid-November 2018.
Since the beginning of this month, BTC exchange reserves have dropped from approximately 2.62 million to 2.58 million, a decrease of nearly 38,000 in two weeks.
The annual trend shows a larger decline, with BTC exchange reserves falling by about 430,000 since the beginning of the year. The lower indicator indicates that the market tends to hold for the long term rather than trade for the short term. This behavior can increase BTC price volatility, especially when supply is constrained and demand surges.