Bitcoin Supply On Exchanges Drops To Lowest Level Since December 2018

Bitcoin Supply On Exchanges Drops To Lowest Level Since December 2018

According to the Blockchain analytics firm Santiment, the overall supply of Bitcoin BTC/USD on crypto exchanges has slipped down to its lowest level in over three years. 

As of March 17, the total supply of Bitcoin on crypto exchanges was only 10.25% of its total supply or 1,946,069.41 BTC.

Also Read: Ethereum Classic Soars On Reaction To Key Pattern, Miners Gain Interest: Is A Golden Cross On The Way?

Santiment also points out that the recent price spike in BTC was triggered by a cascade of short sellers being liquidated as the value of Bitcoin moved higher, triggering a short squeeze.

Price Check: Bitcoin was trading at $41,156.59 on Sunday afternoon, down 1.82% in the past 24 hours.

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