Bitcoin Exchange Balances Hit 6-Year Low, Sparks S
Bitcoin Exchange Balances Hit 6-Year Low, Sparks Supply Shock Expectations
The number of Bitcoin on exchanges have tumbled to the lowest levels since 2019, indicating long-term hodling and an incoming supply shock.
Bitcoin investors are showing no signs of dumping the assets as exchange balances fall.
Exchange balance are at their lowest in six years, triggered by aggressive accumulation spree.
Investors are bracing for a supply shock but whispers of a price crash continue to hover for Bitcoin.
Bitcoin exchange balances have fallen below 2.9 million BTC to set a new 6-year record amid supply shock expectations. As the number of BTC on exchanges falls, bulls are rubbing their hands in glee at the prospect of a rally for the flagship cryptocurrency.
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