With the release of China regulatory policy on Bitcoin mining and trading, as well as the adjustments in the crypto market over the past three years, Bitcoin computing power and user assets on trading platforms have gradually flowed out of China. More and more Bitcoin investors in China have chosen to go overseas.

Note: In theory, there are no exchanges in China, but according to user habit, this article labels Huobi and OKEx as “China domestic” platforms, and Binance, Coinbase and Bittrex as foreign platforms. The following data sources are obtained from data sites such as Glassnode and CryptoQuant.

1. Changes in Bitcoin holding on trading platforms

It…