Golden Finance reported that Bitfinex analysts said that the supply of Bitcoin held by long-term investors on exchanges has fallen to its lowest level in 18 months. Analysts added that this dynamic, coupled with the supply restrictions brought about by the upcoming halving, could lead to further price increases. The current behavior of Bitcoin holders is exactly the same as before the sharp rise in the Bitcoin market in December 2020. "This pattern suggests that we may be entering a similar growth phase," the analyst added. In July 2021, Bitcoin trading reserves hovered around the 2.8 million mark, but have now fallen to around 1.94 million, indicating that Bitcoin has decreased by about 862,000 since CryptoQuant began recording this indicator.