The Bitcoin Supply on Exchanges Reaches a Seven-Year Low Amid Increases in Fund Inflows. "AI Summary"
According to PANews, recent data from CryptoQuant reveals that the supply of Bitcoin on exchanges has reached its lowest point in seven years, falling to 2.488 million BTC last Friday.
Although exchange reserves slightly increased over the weekend to 2.492 million BTC, this level remains the lowest since October 2018. CoinShares reported that Bitcoin funds saw an inflow of $3.2 billion for the week ending April 28.
The combination of declining exchange balances and increasing fund inflows suggests that a new accumulation phase may be underway. Notably, retail investors appear to have played a more significant role in last week's price increase compared to previous weeks. This is evident in the 'exchange whale ratio,' which decreased from 0.512 on April 17 to 0.36 by April 27.
