Earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) made a brief move above $45,000. However, ever since the Federal Reserve announced the inflation numbers on Thursday, it has been moving sideways.
Bitcoin has corrected over 7% from its weekly highs and is currently trading at $42,268 with a market cap of $801 billion. However, one of the biggest positive indicators is that the Bitcoin exchange supply has touched a three-year low since December 2018. On-chain data provider Santiment reported:
With another series of dramatic drops, #Bitcoin’s supply on exchanges is now down to just 10.87%, the lowest percentage seen since December 2018. Generally, this continued trend of coins moving off of exchanges limits the risk of major sell-offs.
A look Into the Bitcoin …
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