Bitcoin Exchange Reserves Lowest In 3 Years, What Does It Mean For The Price?
On-chain data shows Bitcoin exchange reserves have hit the lowest value in 3 years, here’s what it might mean for BTC’s price. Bitcoin Exchange Reserves Lowest In 3 Years As Negative Netflows Continue As pointed out by a CryptoQuant post, exchange reserves have been continuing their downtrend, and have now reached lows not seen since 3 years ago. The all exchanges reserve is an indicator that shows the total amount of Bitcoin held in wallets of all centralized exchanges. An increase in the metric’s value suggests more investors are depositing their coins for withdrawing....
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On-chain data shows Bitcoin exchange reserves continue to decline despite the recent dips, as values reach lowest since 2018. Bitcoin Exchange Reserves Continue To Go Down As pointed out by a CryptoQuant post, the BTC all exchanges reserve is moving down despite the recent downtrend in the price of the cryptocurrency. The Bitcoin all exchanges reserve is an indicator that shows the total amount of coins held on all centralized exchange wallets. A dip in the value of the metric suggests investors are transferring their BTC to personal wallets, either for holding or for selling through OTC....
Some bitcoin enthusiasts may wonder if this news will affect the cryptocurrency use in China. China has been making a lot of media headlines regarding their forex reserves. A new report indicates these reserves are at a six-year low right now. With less than SU$3tn in liquid foreign exchange assets, things are not looking good for the Chinese economy. It appears the recently introduced capital outflow restrictions are not helping the economy stabilize by any means. It is not surprising to see China’s foreign exchange reserves dwindle every month. Even though January’s decline was smaller....
Bitcoin miners, the backbone of the world’s largest cryptocurrency, are experiencing a dramatic shift in their behavior. Data from IntoTheBlock reveals a surprising trend: miner reserves have sunk to their lowest level in 14 years, raising concerns about the future of Bitcoin mining. However, a closer look suggests this might be a case of shrewd […]
Shiba Inu is back in focus as October begins, with the crypto now trading above $0.000012 after weeks of sideways movement below this price level. Despite the sideways price action, on-chain data is pointing to a change in metrics that could soon translate into a breakout. Crypto analyst Zayn shared fresh on-chain data of Shiba Inu custody on social media platform X, pointing out that the meme coin may be setting up for what traders have nicknamed Uptober. Exchange Reserves Hit Lowest Level Since 2023 According to data from on-chain analytics platform CryptoQuant, Shiba Inu exchange....
Ethereum exchange reserves have now hit a new low for the first time in over two years. According to CryptoQuant, this number has plummeted from 26 million from June last year to less than 21 million by July 2021. This seems to be in tandem with the increase in the price of Ethereum. Over the […]