Bitcoin Held on Exchanges Falls to 2.67 Million as Price Recovers

Bitcoin held on exchanges has fallen to 2.67 million from 2.8 million since February, while the cryptocurrency’s price has recovered from recent lows and remains more than 30% below its record high. Bitcoin (BTC) recently traded at $83,485. The price was unchanged over 24 hours and up 8% over the past 30 days. Exchange reserves continued to decline as Bitcoin recovered from its lows. The movement may reflect investors transferring Bitcoin into cold storage, but the reason for each transfer is not established.