A chart like this has started to be shared a lot, especially by foreigners, showing that the amount of Bitcoin on exchanges has dropped to historic lows. People are wondering if someone is accumulating $BTC or if a bull run is coming. I took a general look and it seems like a false alarm. There really is a decrease, but the reason it's so dramatic is because Coinbase moved Bitcoin between wallets, making it hard to calculate reserves accurately. There's a margin of error of about 65,000 BTC, so it seems this news is not a big deal either.
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A chart like this has started to be shared a lot, especially by foreigners, showing that the amount of Bitcoin on exchanges has dropped to historic lows. People are wondering if someone is accumulating $BTC or if a bull run is coming. I took a general look and it seems like a false alarm. There really is a decrease, but the reason it's so dramatic is because Coinbase moved Bitcoin between wallets, making it hard to calculate reserves accurately. There's a margin of error of about 65,000 BTC, so it seems this news is not a big deal either.