Express

Bitcoin Ratio Of Supply On Exchanges Drops To A 6-Month Low

Mary Liu

Summary: Santiment, a crypto analysis platform, tweeted that the supply of Bitcoin on exchanges is at its lowest level since the beginning of January. The company said the 6-month low is a promising sign, as it usually indicates that a major sell-off in Bitcoin is less likely. Bitcoin data on exchanges is an important indicator for ...

Santiment, a crypto analysis platform, tweeted that the supply of Bitcoin on exchanges is at its lowest level since the beginning of January. The company said the 6-month low is a promising sign, as it usually indicates that a major sell-off in Bitcoin is less likely.

Bitcoin data on exchanges is an important indicator for monitoring the short- and medium-term Bitcoin price movements.

Investors may transfer BTC from cold wallets to exchanges in order to sell them for cash. Therefore, once the net inflow of Bitcoins on exchanges increases, it generally indicates a sharp sell-off.

By Mary Liu

Last Update:

Tags:
Link: Bitcoin Ratio Of Supply On Exchanges Drops To A 6-Month Low   [Copy]
  • U.S. SEC Clears Path for Institutional Crypto Custody, Recognizing State Trust Companie... 4 hours ago
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 15 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 22 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 25 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 28 days ago
  • You need to login to comment.