Seller shortage? Bitcoin exchange reserves plunge as BitMEX bleeds BTC
Cointelegraph
Published Oct 18, 2020 04:21AM ET
Updated Oct 18, 2020 06:00AM ET
Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC.
Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges.
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Written By: Cointelegraph
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