Binance, Coinbase Bitcoin Reserves Fast-Dropping, Is This Bullish?

According to CryptoQuant’s data on May 10, Bitcoin reserves in centralized exchanges such as Binance and Coinbase experienced a significant decline in Q4 2022. The reserves remained stable in April despite the prices soaring from $20,000 to $31,000 during that period.
Exchange Bitcoin Reserves Rapidly Shrinking
Bitcoin exchange “reserves” is a metric that tracks the amount of BTC held by centralized exchanges at any given time. Typically, the interaction between coin holders an