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Friday

17 September 2021

Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price support

Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price support


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As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May.

Bitcoin traders have thus reversed a deposit trend that ensued during the mid-May price upheaval, which points to a clear return to an investment-focused — not speculation-focused — mentality.

Data from fellow on-chain analytics firm Glassnode confirmed that on Friday, the section of the supply, which last moved one to two years ago, reached a three-year low.

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cointelegraph.com
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