The exchange reserve data this week, to be honest, isn’t looking great. It also reflects the shift in investor sentiment over the past week. Although BTC’s price was also dropping last week, we could clearly see a downward trend in the amount of BTC held on exchanges. However, this week, it’s evident that more BTC has been transferred into exchanges. From the data, approximately 12,000 BTC have been transferred into exchanges over the past week. As we’ve explained multiple times before, BTC’s price stability and increases aren’t driven by a significant rise in buying power, but rather by lower selling pressure. However, the increase in transfer volume this past week has heightened the selling pressure on BTC. Sponsored by Bitget ｜ @Bitget_zh