Bitcoin reserves on exchanges hit a 3-year low. #Bitcoin 🐋🐳💯
Low reserves on exchanges indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin. According to data as of June 19, 2024, the #BTC exchange reserve, or the total amount of Bitcoin available on exchanges exchange, fell to 3-year lows.🚀🚀🚀💪
CryptoQuant analyzes have revealed that there are currently 2,825,703 Bitcoins left out of the #exchange
In the month of January 2024, the exchange balance was approximately 3,039,000.
Low exchange reserves, sometimes called exchange balances, indicate low selling pressure and a potential supply shock due to the relatively low supply available for purchase. He told his interviewer, "This is really the first wave of early adopters , and I believe that the next one will be that of the larger institutions".🫣😁👍💸
If Johnson's prediction proves true, institutional capital will continue to flow into Bitcoin, putting further pressure on exchanges' limited supply in the coming months.
#halving of April 2024 🆕️
Furthermore, following the April 2024 halving, the supply of Bitcoin is further limited by the decrease in the block reward for mining.
Before the latest halving, #miner received 6.25 BTC for each successfully mined block, now they receive 3.125. $BTC
