The amount of Bitcoin on exchanges has fallen to its lowest level since November 2018
the supply of Bitcoin on cryptocurrency exchanges has dropped significantly to the lowest level since November 2018. This trend suggests that investors are increasingly inclined to hold Bitcoin for the long term rather than actively trading it.
According to data from CryptoQuant, the amount of Bitcoin held by trading platforms has dropped to around 2.58 million coins, a significant decrease from the peak of the bull market in 2021. Analysis suggests that the reduced supply of Bitcoin on exchanges is putting pressure on buyers as the amount of Bitcoin available for sale is decreasing.
The decrease in the supply of Bitcoin on exchanges is putting pressure on buyers as the amount of Bitcoin available for sale has decreased. Therefore, if demand remains unchanged or increases, the upward trend of Bitcoin will continue. This also indicates that investors' confidence in Bitcoin as a means of storing value is increasing due to unpredictable global economic policies and rising inflation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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