CryptoQuant, an on-chain data analytics provider, has recently explored the changes to Bitcoin (BTC) over the last year. According to their findings, the BTC reserves on non-US-based exchanges have increased while the same number has declined in US-based exchanges. This hints at the possibility of institutional buyers accumulating the leading crypto asset by market cap.CryptoQuant also found that more than 20K BTC, accounting for roughly 25%, were withdrawn from Gemini in August alone. These Bitcoin were transferred to wallets like 1QB, 1Et, and 35g. This further supports the conclusion that institutions are continuously buying Bitcoin.In addition, CryptoQuant finds that investors are becoming increasingly exposed to BTC derivative products and futures markets. At the time of writing, BTC is worth $27,470, up 5.4% in the last 24 hours.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	35g, Gemini, CryptoQuant, 1QB, 1Et
Currencies	Bitcoin, Ethereum
Securities	None