Bitcoin exchange reserves fall to two-year low after $8B exodus

Bitcoin's presence on major exchanges has dropped to a two-year low, marked by a substantial outflow of nearly 100,000 BTC. This significant exodus, valued at approximately $8 billion, suggests a notable shift in market dynamics. Key contributing factors include a tightening of over-the-counter (OTC) market balances, making large block trades less liquid, and a considerable 60% increase in demand from long-term "accumulator" addresses. These combined trends point towards a significant reduction in the readily available liquid supply of Bitcoin in the market, as more coins are moved into cold storage or long-term holdings.