The supply of Bitcoin on exchanges has fallen to a seven-year low of 2.488 million BTC as of last Friday. The current exchange reserves stand at 2.492 million BTC, having increased by about 40,000 BTC over the weekend, but this level is still the lowest since October 2018. However, CoinShares reported that as of the week ending April 28, Bitcoin fund inflows reached $3.2 billion. The dual factors of declining foreign exchange balances and increased fund inflows suggest that a new phase of accumulation is about to begin.