CryptoQuant analyst XWIN Japan stated that data shows Bitcoin still has some conditions for forming a bottom, but the improvement in supply and demand is uneven. Bitcoin reserves on exchanges have risen from approximately 2.67 million BTC in early October to about 2.68 million BTC; although still below January levels, this indicates that exchange supply is no longer continuing to decline. Meanwhile, the increase in reserves may also stem from custody adjustments and cannot be directly interpreted as rising selling pressure.
BTC exchange reserves rise to 2.68M, analysts note uneven supply-demand balance
TechFlowShare
Summary
Crypto exchange news: BTC exchange reserves rose to 2.68 million, up slightly from 2.67 million at the start of October. The increase may reflect custodial adjustments rather than rising selling pressure. Despite the rise, reserves remain below January levels. Analysts warn that the supply-demand balance remains uneven. Recent concerns over exchange hacks have kept traders cautious.
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