Bitcoin's Supply on Exchanges Drops to Lowest Level Since 2017

utoday03-15 07:30

According to new on-chain data, the amount of Bitcoin held on cryptocurrency exchanges has plummeted to its lowest level since late 2017.The yellow trendline tracks the percentage of Bitcoin's total ...

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Retail investors and whales alike are increasingly moving their holdings to cold storage hardware wallets.Supply shock?When the percentage of supply on exchanges is low, it means the order books are \"thin.\"If a sudden surge in macroeconomic demand hits the market, there are simply fewer sellers available on exchanges to absorb that demand.Even moderate buying pressure can trigger substantial upside price volatility in a low-liquidity environment.According to CoinGecko data, Bitcoin is currently changing hands at $71,476. 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