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Why Bitcoin Reserves on Crypto Exchanges Are Falling
The price curve of Bitcoin (BTC) ended August in the red, from around $64,000 at the beginning of the month, the daily price fell to around $59,000 at the end of the month. But experts are highlighting an indicator that fuels hopes of a trend reversal. The analysts at CryptoQuant have published a memo that states: The Bitcoin reserves on crypto exchanges have fallen to an annual low, with only around 2.6 million Bitcoin currently stored at Binance, Coinbase and Co. Like CryptoQuant, Coinglass uses blockchain data to measure Bitcoin holdings on crypto exchanges Here, too, an annual low has been recorded, but the ... (full story)
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- Posted: Sep 4, 2024 10:40pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 98
