$BTC
Bitcoin may be down, but whales still want bitcoin as exchange reserves
Exchange reserves are being depleted at a steady pace, falling to a two-year low of 2.35 million coins.
Bitcoin is becoming scarcer as institutions, ETFs, and individual buyers compete to hold coins in self-custodial wallets.
The BTC contract shows a bullish outlook in the long term, as newly mined coins do not cover all purchase orders.