Bitcoin [BTC] staring at an uncertain future in the U.S? New data affirms…

Bitcoin [BTC] staring at an uncertain future in the U.S? New data affirms...

While this reflected a drop of over 2% in the last 24 hours, on a weekly basis BTC surged 2.40%. With the collapse of another big banking institution,Trust erodes in U.S. exchanges

While sentiment around Bitcoin has been bullish since the start of 2023, it faced hurdles in one of the biggest financial and crypto markets of the world, U.S. According to data provided by blockchain analytics firmThe analysis highlighted that despite a long-term decline across all exchanges, the fall in reserves appears to be more significant on American exchanges. A strong reason behind the drop could be increased scrutiny by U.S.

As a result, investors started to prefer self-custody and offshore exchanges to move their BTC holdings.highlighted the stark contrast between BTC holdings on U.S. based trading platforms and offshore platforms. The share of BTC tokens on Binance was more than 25% of the total, while on Binance.US, the entity which operates solely for U.S. customers, the share was drastically low.

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