Bitcoin Exchange Supply Falls to 7.53%, Lowest Since February 2018

Bitcoin's supply on exchanges has decreased to 7.53%, the lowest level since February 2018, indicating a shift in market sentiment.

Key Points

• Institutional investors and long-term holders are moving BTC into self-custody.
• Fewer coins available for sale may lead to price increases.
• On-chain data shows Bitcoin whales are accumulating, with an Accumulation Trend Score above 0.5.
• Whales have added approximately 129,000 BTC since March 11, the highest accumulation rate since August 2024.
• Bitcoin is currently trading at $86,594.09, down 0.6% in the past 24 hours, retesting support at $85,890.
• Analysts note a bullish flag pattern forming, suggesting a potential target of $90,000.

Historically, lower exchange supply has coincided with bullish conditions, decreasing market volatility.