Bitcoin reserves on centralized exchanges have fallen by more than 360,000 BTC since January 2025.
The decline in exchange-held Bitcoin coincides when prices surge above $118,000.
Institutional investors and public companies are accumulating Bitcoin at record rates.
Investors are steadily withdrawing their Bitcoin holdings from centralized exchanges, with reserves dropping by more than 360,000 BTC since January 2025. The current balance sits at approximately 2.4 million BTC, according to new data from CryptoQuant.
This trend, which picked up momentum after the price of Bitcoin crossed $96,900 earlier this year, signals a major shift in investor behavior toward self-custody and long-term holding.
Retail Participation on Exchanges Declines?
The decline in Bitcoin held on centralized exchanges (CEXs) reflects a notable shift in investor behavior over the first half of 2025. Based on analysis by on-chain researcher @ai_9684xtpa, the reduction in reserves amounts to over 360,000 BTC. At current values, this is roughly worth $42.8 billion.
Related: Corporate Bitcoin Holdings Surge to $85 Billion: What’s Fueling the Growth?
The drop has occurred along…
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