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Bitcoin Exchange Reserves Hit Record Low—Is a Major Price Surge Coming?

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By on October 15, 2024 Altcoin, Bitcoin, Regulations, Trading, Web3
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The post Bitcoin Exchange Reserves Hit Record Low—Is a Major Price Surge Coming? appeared first on Coinpedia Fintech News

Bitcoin reserves on exchanges have hit a record low of 2.6 million BTC, down from over 3.3 million three years ago. This decline points to reduced available supply, as long-term holders continue accumulating Bitcoin, while short-term holders show signs of selling. Despite lower reserves, Bitcoin’s network activity remains high, with strong transaction volume and address usage. Reduced supply on exchanges often signals potential price increases, especially if demand holds steady or rises, suggesting that Bitcoin’s value could climb in the coming months.

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