Bitcoin exchange reserves have fallen to a two-year low, with nearly 100,000 BTC flowing out of three major platforms

According to crypto analyst Amr Taha, the Bitcoin reserves of Binance, OKX, and Gemini have significantly decreased since February, with a total outflow of nearly 100,000 BTC, worth over $8 billion, bringing reserves to their lowest level since 2023. Among them, Binance's reserves dropped from about 670,000 on February 21 to about 620,000 on May 7, OKX fell from about 132,000 on March 2 to about 102,000, and Gemini decreased from about 114,800 in early February to 95,000.

At the same time, OTC balances continue to tighten, with the 30-day OTC balance change dropping to -24,940 BTC. On the demand side, the holdings of accumulator addresses increased by 60.5% within two weeks, reaching 264,000 BTC on May 6. Binance's seven-day net buying volume also shifted from about -$1 billion (seller-dominated) at the end of March to +$2.63 billion (buyer-dominated) on Thursday. Analysts point out that simultaneous outflows across multiple platforms are more indicative than those from a single platform, and the reduction in exchange inventories may amplify price reactions when strong spot demand returns.