๐Bitcoin exchange reserves have hit a 3-year low, with only 2,825,703 BTC left up for grabs! ๐ฒ This could mean less selling pressure and potential supply shocks. Thanks, CryptoQuant for the data!
Meanwhile, Bitcoin ETFs are adding to the squeeze. BlackRock's iShares Bitcoin Trust alone holds around 274,000 BTC. And they're just one of 11 Bitcoin ETFs in the US!
Despite recent outflows, experts like Franklin Templeton CEO Jenny Johnson believe we're just seeing the first wave of institutional adoption. Could this mean more pressure on the dwindling exchange supply? ๐ค
Oh, and let's not forget the April 2024 halving, which has further tightened Bitcoin's supply. Miners now only get 3.125 BTC per block.
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