Bitcoin prices remain under pressure, but on-chain data shows that funds have not significantly withdrawn from the market. Over the past six months, Bitcoin reserves on exchanges have decreased by 78,000, meaning the amount of BTC available for sale continues to decline.

This change is often interpreted as some cryptocurrency holders shifting their assets to long-term holdings rather than preparing to sell them in the short term. For the market, this outflow reduces available inventory on exchanges and relatively alleviates selling pressure.

Exchange inventories continue to decline

Coinpedia reports that exchange reserves have decreased by 78,000 BTC. This has reduced the amount of Bitcoin available for sale, impacting market liquidity.

Long-term holding signs still exist

The article argues that the continued net outflow from exchanges indicates that some investors are still accumulating BTC rather than waiting for a rebound to sell.

Short-term volatility remains a concern due to macroeconomic factors.

Coinpedia points out that short-term price movements will still be affected by macroeconomic uncertainties, but underlying demand has not disappeared.