Seller shortage? Bitcoin exchange reserves plunge as BitMEX bleeds BTC

Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC.

Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges.

Bitcoin reserves on exchanges. Source: Glassnode

Is the number of Bitcoin…


Source link

About bitcoin

Check Also

‘Old hands selling out’ metric shows Bitcoin price at risk of HODLers dumping

Old hands are selling their Bitcoin (BTC) holdings, according to glassnode’s Coin Dormancy metric. As …

Leave a Reply

Your email address will not be published. Required fields are marked *