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Bitcoin’s exchange balance drops to 5-year low as price hits $30K Bitcoin’s exchange balance drops to 5-year low as price hits $30K Andjela Radmilac · 1 year ago · 2 min read
α ▸ ▸ Research

Bitcoin’s exchange balance drops to 5-year low as price hits $30K

with insights from Glassnode

Only 11.71% of Bitcoin's supply is currently held on exchanges.

Andjela Radmilac
Jun. 27, 2023 at 5:00 pm UTC
2 min read
Updated: Jun. 27, 2023 at 2:53 pm UTC
Bitcoin’s exchange balance drops to 5-year low as price hits $30K

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's recent rally has been fueled by a decrease in supply on exchanges, indicating a bullish sentiment among investors. As the percentage of Bitcoin held on exchanges reaches a five-and-a-half-year low of 11.71%, market liquidity is impacted, potentially leading to increased volatility...

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Bitcoin BTC (24h)
$97,311.44 -0.22%
Vol: $98.05B MCap: $1.93T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

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