ChainCatcher news, CryptoQuant analyst G a a h stated that the BTC reserves on exchanges have hit the lowest level since November 2018, and the market may see a trend of Bitcoin appreciation.

ChainCatcher news, according to the predicted market Polymarket data, the possibility of Trump establishing a national BTC reserve in the United States is 32%, down 27% from November 7.Previously, Galaxy Digital CEO Michael Novogratz stated in an interview with Bloomberg that he believes the likelihood of the U.S. establishing a Bitcoin strategic reserve is very low.However, he predicts that if the U.S. does establish such a reserve, it would push the price of the largest digital token up to $500,000, as other countries would also feel the need to establish similar reserves.

ChainCatcher news, according to HODL15Capital monitoring, BTC is flowing out of exchanges. In the past 60 days, the BTC reserves on exchanges have decreased by nearly 100,000 coins (98,832 coins). As of the time of writing, the BTC reserves on exchanges are 2,345,211 coins.

ChainCatcher news, according to on-chain data tracked by CryptoQuant, Bitcoin is flowing from Binance to Coinbase. Since yesterday, Coinbase's reserves have increased by about 12,000 BTC, while Binance's reserves have decreased by 5,000 BTC. CryptoQuant's Web3 analyst Bradley Park stated that the decrease in Bitcoin reserves on Binance seems to be due to retail fund outflows.In response, Greta Yuan, research director at the digital asset platform VDX, said that the market remains tense about the recent legal implications for Binance. In the short term, we will see more users transferring funds to compliant or licensed exchanges. Crypto service provider Matrixport wrote, "With this plea agreement, expectations for a spot Bitcoin ETF may rise to 100%, as the industry will be forced to comply with the rules that TradFi companies must follow."