Golden Finance reports that the supply of Bitcoin on cryptocurrency exchanges has significantly decreased, reaching its lowest level since November 2018. This trend indicates that investors are increasingly inclined to hold Bitcoin long-term rather than actively trading. According to CryptoQuant data, the number of Bitcoins held by exchanges has dropped to approximately 2.58 million, a significant decline from the peak of the bull market before 2021. Analysts point out that the reduced supply of Bitcoin on exchanges puts pressure on buyers as the number of Bitcoins available for sale decreases. The decrease in exchange Bitcoin supply puts buyers under pressure because the number of Bitcoins available for sale has reduced. Therefore, if demand remains constant or increases, the upward trend of Bitcoin will continue. This also indicates that due to unpredictable global economic policies and rising inflation, investors' confidence in Bitcoin as a store of value is increasing.
