Bitcoin Reserves on Exchanges Continue to Fall

in #bitcoin • last year

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According to CryptoQuant, exchanges currently hold only 2.09 million BTC. The maximum amount of the cryptocurrency to be issued will be 21 million coins, and by the end of 2023, more than 19.7 million will be in circulation.

At first glance, a decrease in Bitcoin held on exchanges is a bullish signal and indicates a strengthening market and expectations of rising prices. However, given the current regulatory landscape, traders and investors may opt for self-storage amid growing uncertainty. This means that they will transfer BTC to centralized platforms again at a more favorable moment.

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