Recent data from CryptoQuant highlights a significant shift in the world of Bitcoin, as bitcoin exchange reserves hit a six-year low. This decline, witnessed since 2020, has sparked curiosity, praise, and often concern among investors and analysts.
Chart of bitcoin supply on exchanges — Source: CryptoQuant
Factors Driving the Decline
Several factors have could have contributed to this dwindling supply. Turmoil in the industry, notably the FTX collapse, and increased regulatory scrutiny, particularly from the SEC, have shaken investor confidence. Consequently, there’s been a surge in embracing self-custody solutions, where individuals take direct control of their…
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