Bitcoin exchange balances sank to 2018 levels Exchange reserves in bitcoin have been falling rapidly since 2020, regardless of market conditions, the crypto community has noticed. Stocks of bitcoin (BTC) on cryptocurrency exchanges fell to the values of March 2018. This was noticed by Glassnode analysts in their “Twitter”. Analysts did not specify which exchanges are in question. According to published data, as of July 2023, there were just over 2.2 million BTC left on the exchanges (~$68 billion at the current exchange rate). The last time the exchanges recorded such a shortage of bitcoin was on March 14, 2018,
Bitcoin supply on exchanges has fallen to the lowest level since 2018 Investors have been withdrawing cryptocurrencies from exchange wallets since November 2022. This year, their tactics have not changed, and traders continue to send bitcoins for offline storage. Analysts at Santiment found that the volume of cryptocurrencies on trading…