Bitcoin reserves on cryptocurrency exchanges have dropped to 2.35 million BTC, the lowest since June 2018, as institutional buyers, including hedge funds, continue to accumulate during the dip, according to CryptoQuant. Analysts suggest this declining supply could trigger a “supply shock,” potentially fueling a price rally.
However, Bitcoin struggles to reclaim the $100,000 resistance level due to low trading activity. Ryan Lee of Bitget Research noted that while market sentiment is stabilizing, weak daily trading volume hinders significant upward momentum. Broader crypto markets also face subdued trading activity, with Santiment labeling it a “trading paralysis,” increasing the probability of rebounds.
Source: Cointelegraph
