Bitcoins held on public exchanges drop to a 5 year low (below 6%) as more people realize self-custody makes the most sense.

As analyzed by santiment's platform, only 5.84% of the Bitcoin's supply is being held on the exchanges at this moment which is the lowest amount since late 2017. Meaning most people are aware that self-custody is the key, and they are doing it by being their own bank.

https://preview.redd.it/o6wff7sa7bza1.jpg?2933&format=pjpg&auto=webp&s=0da5466fd12f67190e658f6ff6356381b176227e

And looking at the chart it's apparent that people saw those CEXes like FTX failing and slowly started to keep their Bitcoins out of the central exchanges because there is simply no need to and the funds are much safer in their own wallets.