Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
NewsBTC 2022-01-17 19:00:28

Bitcoin Supply Shock: Only 12% Of BTC Supply Is On Exchanges Now

Percentage of the Bitcoin supply on exchanges has dipped further down to 12% recently, as the supply shock continues to deepen. Just 12% Of Bitcoin Supply Is Now Held By Exchanges As pointed out by an analyst in a CryptoQuant post, the percentage of BTC supply stored on exchanges has now dropped down to just 12%. The all exchanges reserve is an on-chain indictor that measures the total amount of Bitcoin currently held by wallets of all exchanges. The “percentage of BTC supply on exchanges” is a metric that tells us the ratio between the exchange reserve and the total supply of the crypto. When the value of this indicator moves up, it means exchange wallets are receiving a net amount of coins. As investors usually send their coins to exchanges for selling purposes, this supply is often referred to as the sell supply of the market. Therefore, an uptrend in it can be bearish for the price of the crypto. On the other hand, when the metric’s value moves down, it means holders are withdrawing their Bitcoin from exchanges. Prolonged such trend can imply there is accumulation going on in the market, and the available supply is shrinking. Hence, downwards movement of the indicator can be bullish for BTC. Related Reading | Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up Now, here is a chart that shows the trend in the value of this metric over the past few years: Looks like the supply on exch...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.