The supply of bitcoin on cryptocurrency exchanges has fallen sharply, reaching its lowest level since November 2018. This trend shows that investors are increasingly inclined to hold bitcoin for the long term rather than actively trading.
According to CryptoQuant, the number of bitcoins held by trading platforms has fallen to about 2.58 million, a significant decrease from the peak of the bull market before 2021. The analysis pointed out that the reduced supply of bitcoin on exchanges has put buyers under pressure because there are fewer bitcoins available for sale. The decrease in the supply of bitcoin on exchanges has put buyers under pressure because there are fewer bitcoins available for sale.
Therefore, if demand remains unchanged or increases, Bitcoin's upward trend will continue. This also shows that investors' confidence in Bitcoin as a store of value is growing due to unpredictable global economic policies and rising inflation.
The number of bitcoins on exchanges has fallen to its lowest level since November 2018
2024-11-19 05:38:47
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