Golden Finance reported that Bitcoin exchange reserves have plummeted to the lowest level in several years, indicating that investors’ confidence in long-term Bitcoin holdings is increasing. CryptoQuant data shows that more than 171,000 Bitcoins have been withdrawn from major crypto exchanges since Trump won the US election on November 5. This trend reduces the liquid supply of Bitcoin, indicating that investors are moving their holdings to cold wallets, possibly as part of their long-term strategy. Exchange reserves have been declining since 2021, reflecting a broader long-term holding trend. According to CryptoQuant, exchange reserves, which stood at approximately 3.2 million Bitcoins in October 2021, have fallen to 2.46 million Bitcoins, the lowest level in years. Similarly, data from Glassnode showed that its illiquid supply measure—the amount of bitcoin held by long-term investors and not actively traded—increased by 185,000 coins in the past 30 days to a record 14.8 million bitcoins. This represents approximately 75% of the current circulating supply (approximately 19.79 million coins).