Exchange BTC balances have dropped sharply in recent weeks, now reaching their lowest level in six years.

Jinse Finance reported that Bitcoin surpassed $125,700 on Sunday, reaching a new all-time high. Meanwhile, the Bitcoin balance on centralized exchanges has dropped to a multi-year low. According to Glassnode data, the exchange balance is only about 2.83 million BTC, the lowest in six years; CryptoQuant's statistics are even lower, at 2.45 million BTC, marking a seven-year low. Both platforms show that BTC balances on exchanges have sharply declined over the past few weeks. Glassnode noted that more than 114,000 BTC (approximately $14 billion) have flowed out of exchanges in the past two weeks. Analysts believe that the shift of funds toward self-custody and institutional accounts indicates increased confidence in holding BTC, and the tightening supply may become a driving force for further price increases.