Summary
- It said the supply of Bitcoin (BTC) on centralized exchanges has fallen to the lowest level in 10 years.
- The CryptoQuant contributor said Bitcoin holdings are 2.4 million, a sharp decrease from 3.5 million in 2020.
- He analyzed that continued accumulation by long-term holders and institutions indicates that on-chain indicators are bullish.
The supply of Bitcoin (BTC) on centralized exchanges has decreased to its lowest level in 10 years.
On the 14th (Korean time), CryptoQuant contributor Chairman Lee said in a report, "The amount of Bitcoin held in custody on centralized exchanges is estimated at 2.4 million," and analyzed, "This is a significant reduction compared to 3.5 million in 2020 and is the lowest level in the past 10 years."
The contributor explained, "This indicates that Bitcoin supply is gradually decreasing and that long-term holders and institutions are steadily accumulating," and added, "Although Bitcoin's price is undergoing a correction, on-chain indicators are signaling bullishness."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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