PANews reported on March 14th that Santiment, an on-chain analytics platform, published an article on its X platform stating that, based on traceable wallet data, the proportion of Bitcoin currently held in exchanges has fallen to its lowest level since November 2017. Over the past eight years, the crypto market and the global macroeconomic environment have undergone significant changes, and the continued decline in the proportion of Bitcoin reserves held on exchanges is generally seen by the market as a signal of increased long-term holding tendencies and reduced tradable selling pressure.