The amount of #Bitcoin available on exchanges is dipping fast. This suggests a potential decrease in selling pressure and could be a bullish sign for the price of Bitcoin.
#Educational Point👇
There are two main reasons why a drop in exchange reserves might be bullish:
Less Selling: If there's less Bitcoin on exchanges, it means there are fewer coins readily available to be sold, which can reduce downward pressure on the price.
Increased Demand: A decrease in exchange holdings could also indicate rising investor demand. People might be moving their Bitcoin off exchanges and into personal wallets, signaling a long-term hold strategy.
