"Exchanges' Bitcoin holdings down to 1.8 million… lowest in 8 years"

The amount of Bitcoin held on centralized exchanges (CEX) has fallen to its lowest level since 2017.

On the 5th (local time), The Block reported that centralized exchanges' Bitcoin balance was approximately 1.8 million as of that day. It is the lowest figure in 8 years since 2017. Timothy Mishir, head of BRN Research, told The Block, "(Bitcoin's) realized market capitalization (Realized Cap) growth rate is still positive on a monthly basis," adding, "New funds are continuously flowing into Bitcoin."

Experts say Bitcoin price volatility has significantly eased. Mishir said, "(Bitcoin) accumulation continues and exchange supply is decreasing," and that prices are stabilizing at levels above the 'True Market Mean.' He added, "What is currently lacking is a clear breakout into the $96,000 to $106,000 range."

There is also analysis that Ethereum (ETH) still has room for further price gains. Mishir highlighted the buying power of investors holding between 1,000 and 10,000 ETH. Mishir said, "Those investors have begun buying Ethereum aggressively again," calling it "one of the strongest leading indicators historically when Ethereum outperforms Bitcoin." He also said, "The daily new address creation spiking to 190,000 after the Fusaka upgrade shows the network's substantive and organic expansion."