đ„ The amount of #Bitcoin held on cryptocurrency exchanges is at its lowest level this year. This is significant
When fewer Bitcoins are held on exchanges, fewer Bitcoins are available for immediate sale.
This reduces liquidity - the ability to buy and sell Bitcoin quickly and easily.
When liquidity is low, it often leads to larger price swings. If demand for Bitcoin remains high, but the supply on exchanges is low, this can put upward pressure on the price.
To attract people to list Bitcoin, exchanges may have to offer special incentives for people to list BTC on their exchanges.
In general, this can lead to volatility and potentially a short-term increase in the price of Bitcoin. đȘđ
