Bitcoin Supply Squeeze? Exchange Reserves At 18-Month Lows
Bitcoin’s availability on major cryptocurrency exchanges has dwindled to its lowest point ever, according to data analysis firm CryptoQuant. What Happened: Over 90,000 bitcoin have been withdrawn in the past month alone, suggesting a growing trend of investors holding onto their coins for the long term, The Block reported. This movement of Bitcoin from exchanges, often referred to as “cold storage,” has been ongoing for several years and may be fueled by a combination of factors, including rising Bitcoin prices, the potential approval of exchange-traded funds (ETFs) directly tied to Bitcoin an…