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 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> of Bitcoin (BTC) on cryptocurrency <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s has hit its <a rel="noopener noreferrer nofollow" title="lowest" href="https://thebittimes.com/tag/lowest.html">lowest</a> amount in the past five <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a>, as investors continue to pull their assets off them due to declining confidence in crypto trading platforms that have been under constant pressure by regulators in recent months.</p>
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 <p class="paragraph">Indeed, the overall <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> of Bitcoin on <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s is down to a mere 5.38%, which is the <a rel="noopener noreferrer nofollow" title="lowest" href="https://thebittimes.com/tag/lowest.html">lowest</a> point since December 2017, according to the most recent information shared by crypto on-chain and social metrics platform <em>Santiment</em><em> </em>in an X post published on November 29.</p>
 <p class="paragraph">As the analysts explained, investors have continued to move their Bitcoin into self-custody “as exchange reputation continues to diminish,” exacerbated by the recent settlement between Binance and the United States Securities and Exchange Commission (SEC), as well as the lawsuit against Kraken.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/kqpKSf7CIP78rQcVJEg0x_JlvkHrmR_IyWOkp5Y9vN_J56FovbjPll74it3xD6TdUZsrX6btXDDvw7e5fwoaD96B93lXgJdgH5S_KlTxQuGOuoFts4OEmrPKHl5MO32I-a9RK6Gip3ocZpSA9R5yekA" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin vs. Tether supply on exchanges. Source: </em><em>Santiment</em>
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 <p class="paragraph">At the same time, the ten largest exchange crypto wallets with Tether (USDT) are holding $15.23 billion worth of the stablecoin, “pushing exchange power to its highest level in 17 months,” or since June 2022, as the platform’s team explained using the above chart.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
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 <p class="paragraph">Meanwhile, the maiden cryptocurrency was at press time changing hands at the price of $38,240, recording an increase of 3.14% in the last 24 hours, as well as gaining 4.24% across the previous seven days and advancing 10.67% over the past month, as the latest charts suggest.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/s3wPYUSi5fnOURhYN5pLmbwAEQAVkck2BycoRqystP2MYEwtn9aZUMDrz4XuSIbqkgNiSOF-N4vpvaH_k4g-RTaL43d-dCfym-jxLIOULlui6w-brBDxaKK65d3Jviqk5fs-qksHS5O0fjfvmTXMkqA" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
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 </figure>
 <p class="paragraph">Interestingly, the declining amount of Bitcoin on crypto <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s has moved in the opposite direction from the price of the flagship decentralized finance (DeFi) asset since early June 2023, coinciding with the SEC charging Coinbase (NASDAQ: COIN) with operating as an unregistered securities <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-supply-on-exchanges-hits-lowest-in-5-years-here-s-why-tbt72019.html">https://thebittimes.com/bitcoin-supply-on-exchanges-hits-lowest-in-5-years-here-s-why-tbt72019.html</a></p>

Bitcoin supply on exchanges hits lowest in 5 years; Here’s why

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