Bitcoin Exchange Supply Continues To Slip, Holders Not Interested In Selling?

On-chain data shows that the Bitcoin exchange supply has only continued to decline despite the recent rally that the asset has observed.
Bitcoin Exchange Supply Continues To Register Net Decline
According to data from the on-chain analytics firm Glassnode, exchanges have continued to see withdrawals recently. The indicator of interest here is the “exchange balance,” which measures the total amount of Bitcoin that’s currently sitting in the wallets of all centralized exchanges.