Terra Classic

Bitcoin

April

Terra

Zero

<div class="finbold">
 <p class="paragraph">The cryptocurrency exchange reserves of Bitcoin (BTC) reached record lows below 2 million BTC in early April. With now less than 10% of Bitcoin’s circulating supply, an increased demand has the potential to cause a supply shock.</p>
 <p class="paragraph">Notably, Finbold retrieved data from <em>CryptoQuant</em> on April 8 that shows 1.94 million BTC in all known exchange addresses. This represents around 9.8% of Bitcoin’s circulating supply of 19.67 million coins issued, by press time.</p>
 <p class="paragraph">The exchange reserves have been in a downtrend since a peak of 2.85 million BTC in July 2021. On that note, these reserves diminish as Bitcoin investors withdraw the coins from these entities’ custody. A decision that shows intent to hold Bitcoin and not actively selling or trading it.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Machine learning algorithm sets Terra Classic price for April 30, 2024 <span class="self-center text-xs text-slate-500">32 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Economist says Bitcoin pump is to 'sucker ETF investors' to buy before dump <span class="self-center text-xs text-slate-500">53 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bybit offers zero-fee deposits and trading with EUR Zero Fees Fiesta <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    You’d never guess which precious metal this bank is most bullish on <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Meanwhile, BTC trades at $69,892, challenging the $70,000 psychological resistance level.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="514" src="https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp" alt class="wp-image-167620" srcset="https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp 1024w, https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp 300w, https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp 768w, https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp 1536w, https://cdn.thebittimes.com/images/2024/04/09/fffd90856e8183d722830ed8ea23f7af.webp 1980w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin reserves in exchanges. Source: <em>CryptoQuant</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-what-is-a-supply-shock-and-its-price-effects-on-bitcoin">What is a supply shock and its price effects on Bitcoin?</h2>
 <p class="paragraph">A Bitcoin supply shock occurs when the available supply of Bitcoin on exchanges suddenly decreases while facing an increased demand. Essentially, this can translate to a higher buying volume, with a lower selling volume, driving the prices higher.</p>
 <p class="paragraph">One of the factors that contribute to a supply <a rel="noopener noreferrer nofollow" title="shock" href="https://thebittimes.com/tag/shock.html">shock</a> is <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> <a rel="noopener noreferrer nofollow" title="reserves" href="https://thebittimes.com/tag/reserves.html">reserves</a> dropping through significant withdrawals. Consequently, the reduced supply available for trade can lead to a significant increase in Bitcoin’s price.</p>
 <p class="paragraph">Moreover, the Bitcoin halving event, which occurs approximately every four years, further exacerbates the supply <a rel="noopener noreferrer nofollow" title="shock" href="https://thebittimes.com/tag/shock.html">shock</a>. After the halving, the amount of newly minted and issued Bitcoins awarded to miners is cut in half.</p>
 <p class="paragraph">In particular, the <em>Bitcoin Magazine</em> believes a supply <a rel="noopener noreferrer nofollow" title="shock" href="https://thebittimes.com/tag/shock.html">shock</a> is imminent for Bitcoin in the joint of these factors.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">NEW: Only 1.7 Million #Bitcoin are left on exchanges.<br><br>With the coming halving, supply shock is imminent pic.twitter.com/Z58uKFNe01</p>— Bitcoin Magazine (@BitcoinMagazine) April 9, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Therefore, this reduction in new supply, coupled with the decreased Bitcoin reserves of exchanges, intensifies the economic effects. As a result, the heightened demand for BTC in the face of a dwindling supply has the potential to trigger a sharp rise in its price.&nbsp;</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>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/supply-shock-alert-bitcoin-exchanges-reserves-at-record-lows-tbt84948.html">https://thebittimes.com/supply-shock-alert-bitcoin-exchanges-reserves-at-record-lows-tbt84948.html</a></p>

Supply shock alert: Bitcoin exchanges reserves at record lows

목차

TheBitTimes

2024년 4월 9일에 게재된 다른 기사

Options Traders Gear Up for Bitcoin Halving: Bullish Bets Prevail

Lumoz Yields $6 Million Funds and Closes Its Series B Round, at a Valuation of $120 Million

Top Analyst Names 3 Tokens That Could Double or Triple in Value Next Week Before the Bitcoin Halv...

Bitcoin Halving to Send BTC Price Ballistic, Top Analyst Predicts

BlockDAG’s Whitepaper V2 Sets Stage for 20,000x ROI Amidst Solana Bot Scandal and KLXO Lending In...

KuCoin Lists Truflation (TRUF), a Rising Star in Real-World Asset Tokenization

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!