Bitcoin powers to $125K peak as balance on exchanges falls to six-year low

Bitcoin exchange balances plunged to six-year lows as over $14 billion left CEX platforms in a fortnight, as the asset powered to a new peak price.

The amount of Bitcoin held on centralized exchanges has plunged to a six-year low as the asset climbed to a new all-time high.

The total Bitcoin balance on centralized exchanges fell to a six-year low of 2.83 million BTC on Saturday, according to Glassnode.

The last time that there were fewer coins stored on exchanges was early June 2019, when the asset was trading around $8,000 in the depths of a bear market.

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