Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price...
BTC price action may be struggling, but one analyst is hoping for a “sell-side liquidity crisis.” Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows.As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May.Time for another Bitcoin “sell-side liquidity crisis?”As of Thursday, the latest date for which figures are available, there was 2.399 million BTC available across major exchanges. May’s low measured 2.390 million.Bitcoin traders have thus reversed a....
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Decreasing reserves mean a decline in Bitcoin supply for selling, altcoin purchasing and margin trading. Bitcoin’s (BTC) ongoing price rally above $64,000 has coincided with a substantial drop in its reserves across all exchanges.According to data provided by CryptoQuant — a South Korea-based blockchain analytics service — the amount of Bitcoin held in exchanges’ wallets dropped to as low as 2.379 million BTC earlier this week, the lowest in more than three years. Currently, the reserves are around 2.38 million BTC.Bitcoin reserves across all exchanges. Source: CryptoQuantCryptoQuant noted....
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