Bitcoin Exchange Reserves Return To 2019 Levels As Spot ETFs And Corporate Treasuries Lock In Holdings

Bitcoin is trading under $70,000 while exchange balances have fallen back to levels last seen in 2019, according to CryptoQuant. Since 2022, reserves on centralized platforms have declined to about 2.7 million BTC as spot ETFs and corporate treasuries together now hold roughly 2.4 million BTC. Price currently consolidates around $67,500, with Bitcoin struggling below key moving averages after a sharp sell-off earlier in the year.