Bitcoin Price Pullback After Record High; Exchange Balances Drop to Multi-Year Lows

Bitcoin’s recent price surge has cooled, retreating back to the $122,000-$123,000 range after briefly exceeding $125,700. This pullback comes as a decline in exchange-held Bitcoin reaches six-year lows, with over 114,000 BTC (approximately $14 billion) exiting centralized exchanges within the past two weeks. These outflows suggest growing confidence among long-term holders and institutions.