CryptoQuant: Increased trading activity among short-term holders drives surge in CEX Bitcoin reserves

ChainCatcher news, according to The Block, data from CryptoQuant shows that Bitcoin exchange reserves have increased over the past week. CryptoQuant analysts believe that the transfer by the German government is not the reason for the increase in reserves; rather, it should be attributed to the increased trading activity of short-term holders on centralized trading platforms.

CryptoQuant's research director Julio Moreno stated that the increase in total Bitcoin reserves on trading platforms mainly comes from the reserves of centralized cryptocurrency exchanges such as Binance, OKX, and Bitfinex. However, Moreno denied claims that the increase in reserves is related to entities selling Bitcoin, such as the German government's Bitcoin wallet.

"This may be related to increased trader activity, as most Bitcoin inflows come from short-term holders, and it seems unrelated to the German government's seizure of Bitcoin."