This Hasn’t Happened to Bitcoin (BTC) in Six Years.$BTC

BTC’s supply on crypto exchanges has plunged to a six-year low of 5.38%.

TL;DR

Bitcoin (BTC) has risen above $38,000 as BTC’s supply on exchanges drops to 5.38%, the lowest since December 2017, amid declining trust in exchanges following events like FTX’s collapse and Binance’s legal troubles.

The trend towards BTC self-custody is seen as bullish, contributing to Bitcoin’s significant rally of 130% since the year’s start.

Analyst PlanB forecasts Bitcoin reaching $65,000 after the 2024 halving and soaring to $524,000 by 2027, anticipating a more robust bull cycle than in 2021.#BTC