According to Cointelegraph, CryptoQuant data shows that as of June 19, the Bitcoin trading platform reserves (the total amount of Bitcoin available on the exchange) have fallen to a three-year low of 2,825,703 BTC. In January 2024, the balance of Bitcoin trading platforms hovered around 3,039,000.
Lower foreign exchange reserves indicate lower selling pressure and potential supply shocks due to relatively less supply available for purchase.
