Ethereum

Shift

Bitcoin

Coin

<ul class="news-points"> 
 <li>Bitcoin’s exchange supply hits a two-year low.</li> 
 <li>Whales withdraw BTC from exchanges, signaling bullishness.</li> 
 <li>Reduced BTC on exchanges could ease selling pressure.</li> 
</ul> 
Despite Bitcoin’s recent struggles amidst broader bearish market pressures, on-chain data suggests a potential shift in momentum, as the cryptocurrency’s supply on exchanges hits a two-year low. 
After a previous dip, Bitcoin reached a high of $69,977 the previous day, only to decline to $67,028 early today, further impacting altcoins. 
However, on-chain data suggests that the ongoing market sell-off might soon pause. In a post on X, market intelligence platform Santiment revealed that Bitcoin’s supply on exchanges has dropped to its lowest level since December 2021. Specifically, centralized trading platforms now hold a Bitcoin reserve of approximately 942,000 BTC tokens valued at over $63 billion.&nbsp;&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f60e.png" alt="😎" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin's supply on exchanges has now dropped to its lowest level since December, 2021 (~942K coins). Meanwhile, Ethereum and Tether are moving back on. Historically, there is less drop-off risk for all of crypto while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a>'s available supply to be sold is limited. <a href="https://t.co/vGv0q6esxx" target="_blank" rel="nofollow">pic.twitter.com/vGv0q6esxx</a>— Santim…
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The post <a href="https://coinedition.com/bitcoin-exchange-supply-dwindles-signaling-potential-market-shift/">Bitcoin Exchange Supply Dwindles, Signaling Potential Market Shift</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Exchange Supply Dwindles, Signaling Potential Market Shift

Coin Edition

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