Bitcoin Supply at Exchanges Drops to 6-Year Low Amidst Bearish Sentiment and Regulatory Pressure

08/25 06:35

Bitcoin's price has retraced to around $26,000 after a brief surge earlier this week. However, on-chain data shows that the supply of Bitcoin held on exchanges has dropped to a six-year low, indicating that investors are holding onto their assets instead of selling. Additionally, Bitcoin whales have been accumulating more Bitcoin since last week's market crash, with over $300 million worth of Bitcoin accumulated so far.

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