👉👉👉$Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low
BTC reclaimed the $70,000 mark on March 25 as BTC accumulation resumed, leading to a nine-year low in Bitcoin supply on the Coinbase cryptocurrency exchange.
BTC supply on Coinbase hits nine-year low
Bitcoin reclaimed the $70,000 mark at 4:47 pm UTC for the first time since March 15, according to CoinMarketCap data.
BTC/USDT, 30-minute chart. Source: CoinMarketCap
On the supply side, Bitcoin reserves on Coinbase reached a nine-year low of 344,856 BTC on March 18, showing that investors have resumed accumulating BTC off exchanges.
The last time BTC reserves on Coinbase were at similar lows was in 2015, according to data provider Glassnode.
Bitcoin balance on Coinbase. Source: Glassnode
The total Bitcoin balance in accumulation addresses has also rebounded to over 3.2 million BTC, nearing a record high, according to Glassnode’s chart..
