Odaily Planet Daily News CryptoQuant.com published an article on the X platform (formerly Twitter) summarizing the changes in the Bitcoin market in the past year.
Data shows that non-U.S. centralized exchanges (CEXs) such as Binance, OKX, and Bitfinex have seen their Bitcoin reserves increase by more than 10% over the past year. Bitcoin reserves in U.S. CEXs such as Coinbase, Gemini, and Kraken have fallen by at least 30%, and the highest drop has even been more than 50%.
Judging from the withdrawal amount and wallet deposit and withdrawal records, institutions are constantly buying Bitcoin. Over 20,000 BTC were withdrawn from Gemini in August alone.
Participants in the futures market have significantly increased their derivatives exposure, and Bitcoin contract positions have also hit a record high since November 2022. In August of this year, the price of Bitcoin fell sharply, and the market experienced the highest liquidation record since the FTX crash in November 2022.