The number of Bitcoin reserved on exchanges is declining, which indicates a further upward trend. Data from CryptoQuant shows that over 2.56 million Bitcoin were on centralized exchanges in April, and by May 13, 2025, this number has dropped to just over 2.44 million BTC. This represents a decrease of approximately 4%. The decline in reserves may help prevent the currency from being sold. This usually happens when people decide to hold digital currencies for a long time and stop sudden trading.

This trend is observed to be a factor determining Bitcoin's price movements. The cost of BTC peaked at $104,137 on May 13, while the balance on exchanges continued to decline. CryptoQuant indicates that this approach reflects a high confidence in the currency when the amount held by exchanges decreases, and the market rises. #Dominance #Bitcoin