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NewsBTC 2022-02-28 19:00:32

Despite Struggling Price, Bitcoin Exchange Reserve Hits Lowest Value Since Sept 2018

Despite the recent struggling Bitcoin price, on-chain data shows the exchange reserve has just hit the lowest value since September 2018. Bitcoin Exchange Reserve Declines To Lows Not Seen Since Sept 2018 As pointed out by an analyst in a CryptoQuant post, the BTC exchange reserve has observed further decline recently, reaching the lowest values in more than 3.5 years. The “all exchanges reserve” is an indicator that measures the total amount of Bitcoin present on wallets of all exchanges. When the value of this indicator goes up, it means the supply on exchanges is rising as investors deposit their coins. Such a trend is usually bearish for the price of the crypto as holders usually transfer to exchanges for selling purposes. On the other hand, the reserve’s value decreasing would imply that investors have been withdrawing a net amount of Bitcoin recently. This trend can prove to be bullish for the coin as it may be an indication of accumulation behavior. Related Reading | Battle Of The Hedges: How Gold And Bitcoin Have Performed With Russia-Ukraine Conflict Now, here is a chart that shows the trend in the price of BTC over the past four years: The value of the indicator seems to have decreased over the past couple of years | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange reserve has been on a downtrend since the last two years. The metric did observe a temporary upward...

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