PANews reported on April 29 that according to Decrypt, CryptoQuant data shows that the Bitcoin exchange supply has dropped to a seven-year low, falling to 2.488 million BTC last Friday. The exchange reserves are currently 2.492 million BTC, increasing by about 40,000 BTC over the weekend, but this level remains the lowest since October 2018. However, CoinShares reported that Bitcoin funds saw inflows of $3.2 billion in the week ending April 28. The dual factors of declining foreign exchange balances and increasing capital inflows suggest that a new phase of accumulation is about to begin. In the past week's rally, retail investors seem to have played a larger role than in recent weeks. This is evident in the "exchange whale ratio", which has dropped from 0.512 on April 17 to 0.36 on April 27.
Bitcoin exchange supply drops to 7-year low
This article is machine translated
Show original
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content




