⚠️ RBC reports:

Bitcoin reserves on exchanges are dwindling

📌 Bybit analysts have presented a hypothetical scenario of a shortage of coins when demand is high. They attribute this to the demand for bitcoins from U.S. spot ETFs.

📌 Assuming that with the exchanges' current reserves of 2 million coins, daily inflows into these ETFs would average $500 million, about 7,142 bitcoins would leave the exchanges' reserves every day. That means it would only take nine months to use up all remaining reserves, the exchange analysts wrote in a piece on the market implications of bitcoin halving.

📌 New bitcoin issuance would halve after halving. The analysts call a shrinking supply of coins with high demand a prerequisite for the price to rise "to new records."

📌 In fact, the bitcoin halving is just over two days away and bitcoin price sagging before the halving is a common occurrence. The bitcoin price will not rise immediately after the halving, but the outflow of 13500 BTC per month from the market, which will begin in 53 hours, will certainly affect the price.

❗️In the graph, the blue curve is bitcoin reserves on centralized exchanges, the black curve is the bitcoin exchange rate

Data: Bybit, Cryptoquant

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