Recently, there has been a big stir, as someone withdrew 820 bitcoins from Binance and Coinbase at once, with a total value of about 94 million dollars. This amount was transferred to a brand new wallet, which had no prior transaction traces, indicating an intention for long-term holding, commonly referred to in the industry as 'cold storage.' The simultaneous withdrawal from two exchanges suggests that this was not a spur-of-the-moment decision but rather a planned action, likely to avoid drawing attention. However, it still caught the eye of on-chain data.

Although this amount is not small, it is not particularly astonishing compared to the daily trading volume of bitcoin. The key point is that if this withdrawal behavior continues, the amount of bitcoin available in exchanges will decrease—when supply tightens, you know how the price trends. In fact, the bitcoin reserves in exchanges have already been declining; Binance currently has only about 610,000 left, and it continues to decrease.

Of course, withdrawing bitcoin does not necessarily indicate optimism about the market; it may also be for over-the-counter trading or arbitrage. But regardless of the motivation, the decreasing amount of bitcoin in exchanges is already a noteworthy signal. #加密市场反弹