Data: The remaining BTC balance on the trading platform is only 2.936 million, a new low for this cycle.

According to Mars Finance, on December 9th, on-chain data analyst Murphy stated that the BTC balance on trading platforms has dropped to only 2.936 million, a new low for this cycle. More BTC is being withdrawn to the blockchain as reserves rather than transferred to trading platforms for sale. The last time the balance on trading platforms reached this low level was after the FTX collapse on December 17, 2022. The BTC balance on the Binance platform has a significant impact on short-term prices, showing four rapid increases since the beginning of 2024, each corresponding to a weakening BTC price. The recent continuous decline in the BTC balance on the Binance platform provides a precondition for a rebound. On-chain data shows that whale holding more than $1 million and $10 million exhibit consistent behavior, primarily withdrawing coins to the blockchain, while retail investors (with less than $100,000) tend to deposit coins into trading platforms. Analysts believe that the rebound of BTC from $80,000 is not yet over.