Odaily Planet Daily News 10x Research recently released a report indicating that the Bitcoin balance on cryptocurrency exchanges has reached a historic low, with on-chain data showing a sharp decline in the amount of Bitcoin available for purchase. The report contrasts sharply with the trend observed at the end of summer, when a sudden influx temporarily replenished exchange reserves. However, this time there has been no such increase in inventory, exacerbating supply tightness. Analysts indicate that Bitcoin and the broader cryptocurrency market are being driven by favorable catalysts, suggesting continued growth in the coming year. On-chain analysis shows that long-term holders (often viewed as a stabilizing force in the market) are firmly holding their positions, limiting Bitcoin inflow to exchanges and reducing liquidity. It points out that currently, only three major exchanges (Bitfinex, Binance, and Coinbase) report having sufficient Bitcoin reserves to meet buyer demand. Smaller exchanges are facing increasing challenges in maintaining liquidity, which could lead to heightened price volatility. (Decrypt)

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