Bitcoin Exchange Reserves Make A Downtrend, Are Whales Starting To Accumulate?

[RSRS]

The Bitcoin All Exchanges Reserve Goes Down
As pointed out by a Crypto Quant post, the BTC all exchanges reserve looks like it has gone down over the past couple of weeks.

The Bitcoin all exchanges reserve is a useful indicator that shows us the amount of BTC held in wallets of all exchanges.

When this quantity goes up, it means more investors are putting their BTC into exchange wallets for selling purposes, or exchanging it for altcoins.

Related Reading | Production Cost: Why $14K Is Likely The Absolute Floor For Bitcoin

On the other hand, when the all exchanges reserve goes down, it shows buyers are sending their BTC to personal wallets, possibly to accumulate.

Here is how the BTC all exchanges reserve chart has looked like over the past three months:



BTC all exchanges reserve seems to going down | Source: CryptoQuant

As the above chart shows, it seems like whales are slowly starting to accumulate Bitcoin amidst the crashed price.

Another notable feature in the graph is that the 50% crash in May was accompanied by  a sharp increase in the all exchanges reserve. This makes sense as investors selling off their BTC in hordes would strike the price down.

Now, here is another chart that shows the outflow of a popular Bitcoin exchange, Coinbase:

Sourch