{"id":598836,"date":"2024-03-20T13:00:36","date_gmt":"2024-03-20T13:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=598836"},"modified":"2024-06-11T07:23:21","modified_gmt":"2024-06-11T07:23:21","slug":"bitcoin-supply-on-exchanges-2","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-supply-on-exchanges-2\/","title":{"rendered":"Bitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing?"},"content":{"rendered":"

Certain Bitcoin fundamentals suggest the <\/span>flagship crypto token<\/span><\/a> is well primed for further growth in <\/span>this bull market<\/span><\/a>. However, its recent price decline has sparked concerns about the reason for this downward trend despite everything pointing to a sustained upward movement.\u00a0<\/span><\/p>\n

Bitcoin Supply On Exchanges Hit 4-Year Low<\/h2>\n

Data<\/span><\/a> from the on-chain analysis platform CryptoQuant highlighted that the <\/span>supply of Bitcoin on exchanges<\/span><\/a> has seen nearly a 40% drop in 4 years and is reducing ahead of the <\/span>Bitcoin halving<\/span><\/a>. This underscores the bullish sentiment around the <\/span>Bitcoin ecosystem<\/span><\/a> as the decreasing supply on supply suggests that most investors have no plans to sell their holdings anytime soon.\u00a0<\/span><\/p>\n

Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern<\/a><\/div>\n

The CryptoQuant data also noted that <\/span>Bitcoin\u2019s demand<\/span><\/a> is outpacing its supply, which is said to have been the prevailing trend since 2020. This development offers a bullish narrative as it can continue to increase Bitcoin\u2019s value since \u201cscarcity boosts perceived value.\u201d This trend is also expected to be sustained once the Halving occurs since miners\u2019 supply <\/span>will be cut in half<\/span><\/a>.\u00a0<\/span><\/p>\n

Interestingly, the imbalance between Bitcoin\u2019s demand and supply has led crypto analysts like <\/span>MacronautBTC to believe<\/span><\/a> that BTC\u2019s price could rise to as high as $237,000. As such, there are still high expectations for Bitcoin despite the crypto token hitting a <\/span>new all-time high (ATH)<\/span><\/a> of $73,750.\u00a0<\/span><\/p>\n

Why Bitcoin\u2019s Price Is Crashing<\/h2>\n

Crypto analyst Alex Kruger<\/span><\/a> has <\/span>outlined<\/span><\/a> different reasons why Bitcoin\u2019s price is crashing despite its strong fundamentals. The first reason he alluded to was the fact that crypto traders in the <\/span>derivatives market<\/span><\/a> look to be overleveraged, possibly because greed seems set to be setting in with traders deploying more capital in anticipation of further price surges.\u00a0<\/span><\/p>\n

Kruger mentioned that the ETH could also be dragging the market down with the hopes of the <\/span>SEC (Securities and Exchange Commission)<\/span><\/a> approving the <\/span>Spot Ethereum ETFs<\/span><\/a> waning. Bitcoinist recently reported that the approval odds for these investment funds have plummeted immensely in the past few months, dropping to an alarming 35%.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Growth Hits Roadblock As Holder Activity Enters Dreaded Period Of Stagnancy<\/a><\/div>\n

The third reason that Kruger mentioned is the negative <\/span>Bitcoin ETF inflows<\/span><\/a>, which have become a trend lately. Interest in these Bitcoin funds has cooled off, with investors opting to take profit instead. On March 19, BitMEX Research <\/span>revealed<\/span><\/a> that these ETFs saw a record net outflow of $326m.\u00a0<\/span><\/p>\n

Crypto trader and analyst Rekt Capital also <\/span>suggested<\/span><\/a> that Bitcoin is already in the \u2018Final Pre-Halving Retrace.\u2019 Therefore, significant price corrections can be expected ahead of the Halving event, which is set to take place in April.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at around $63,000, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC rises above $64,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Financial Commission, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Certain Bitcoin fundamentals suggest the flagship crypto token is well primed for further growth in this bull market. However, its recent price decline has sparked concerns about the reason for this downward trend despite everything pointing to a sustained upward movement.\u00a0 Bitcoin Supply On Exchanges Hit 4-Year Low Data from the on-chain analysis platform CryptoQuant highlighted that the supply of Bitcoin on exchanges has seen nearly a 40% drop in 4 years and is reducing ahead of the Bitcoin halving. This underscores the bullish sentiment around the Bitcoin ecosystem as the decreasing supply on supply suggests that most investors have no plans to sell their holdings anytime soon.\u00a0 Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern The CryptoQuant data also noted that Bitcoin\u2019s demand is outpacing its supply, which is said to have been the prevailing trend since 2020. This development offers a bullish narrative as it can continue to increase Bitcoin\u2019s value since \u201cscarcity boosts perceived value.\u201d This trend is also expected to be sustained once the Halving occurs since miners\u2019 supply will be cut in half.\u00a0 Interestingly, the imbalance between Bitcoin\u2019s demand and supply has led crypto analysts like MacronautBTC to believe that BTC\u2019s price could rise to as high as $237,000. As such, there are still high expectations for Bitcoin despite the crypto token hitting a new all-time high (ATH) of $73,750.\u00a0 Why Bitcoin\u2019s Price Is Crashing Crypto analyst Alex Kruger has outlined different reasons why Bitcoin\u2019s price is crashing despite its strong fundamentals. The first reason he alluded to was the fact that crypto traders in the derivatives market look to be overleveraged, possibly because greed seems set to be setting in with traders deploying more capital in anticipation of further price surges.\u00a0 Kruger mentioned that the ETH could also be dragging the market down with the hopes of the SEC (Securities and Exchange Commission) approving the Spot Ethereum ETFs waning. Bitcoinist recently reported that the approval odds for these investment funds have plummeted immensely in the past few months, dropping to an alarming 35%.\u00a0 Related Reading: Dogecoin Growth Hits Roadblock As Holder Activity Enters Dreaded Period Of Stagnancy The third reason that Kruger mentioned is the negative Bitcoin ETF inflows, which have become a trend lately. Interest in these Bitcoin funds has cooled off, with investors opting to take profit instead. On March 19, BitMEX Research revealed that these ETFs saw a record net outflow of $326m.\u00a0 Crypto trader and analyst Rekt Capital also suggested that Bitcoin is already in the \u2018Final Pre-Halving Retrace.\u2019 Therefore, significant price corrections can be expected ahead of the Halving event, which is set to take place in April.\u00a0 At the time of writing, Bitcoin is trading at around $63,000, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 BTC rises above $64,000 | Source: BTCUSD on Tradingview.com Featured image from Financial Commission, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":598860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,12210,91896,1119,91897,89185,1122,1144,78790],"class_list":["post-598836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-supply","tag-bitcoin-supply-exchanges","tag-btc","tag-btc-exchanges","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing?<\/title>\n<meta name=\"description\" content=\"Certain Bitcoin fundamentals suggest the flagship crypto token is well primed for further growth in this bull market.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing?","url":"http:\/\/ktsl888.com\/news\/bitcoin-supply-on-exchanges-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-supply-on-exchanges-2\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_3fe059.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_3fe059.jpeg?fit=300%2C168"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","bitcoin supply","bitcoin supply exchanges","btc","btc exchanges","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-03-20T13:00:36Z","datePublished":"2024-03-20T13:00:36Z","dateModified":"2024-06-11T07:23:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-supply-on-exchanges-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-supply-on-exchanges-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin_3fe059.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin_3fe059.jpeg?fit=300%2C168\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin supply\",\"bitcoin supply exchanges\",\"btc\",\"btc exchanges\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-03-20T13:00:36Z\",\"datePublished\":\"2024-03-20T13:00:36Z\",\"dateModified\":\"2024-06-11T07:23:21Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_3fe059.jpeg?fit=300%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/598836"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=598836"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/598836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/598860"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=598836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=598836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=598836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}