Bitcoin Supply Shock: Reserves Drop To Lows Not Seen Since October 2017
Bitcoin spot reserves continue the recent trend of decline as values now stand at the lowest since October 2017. This shows the supply shock is tightening its grip. Bitcoin Supply Shock Narrative Grows Further As Spot Reserves Decline To October 2017 Levels As pointed out by a CryptoQuant post, BTC spot reserves have dropped down to lows not seen since October 2017. The spot reserves is a Bitcoin indicator that shows the total amount of coins held on wallets of all spot exchanges. When the value of the metric goes up, it means there is now an increase in the supply of BTC for selling and....
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Data shows Bitcoin and Ethereum exchange reserves continue their downtrend as the supply shock tightens its grip. Bitcoin And Ethereum Exchange Reserves Trend Downwards As pointed out by a crypto trader in a tweet, both Bitcoin and Ethereum continue to experience a decline in their exchange reserves. The exchange reserve of an asset is an […]
Ether supply on exchanges is now at a 9-year low: specifically 18.95 million ETH as of February 18, at the time of writing. This suggests investors are now moving $ETH into cold storage, presumably for long-term HODLing purposes. If the ecosystem is overall looking to hold, rather than trade Ether, the historic all-time lows supply significantly increases the odds of ‘supply shock’ occurring, which would inevitably power an $ETH bull run and skyrocket the price. Basic economics dictate that a supply shock happens when the demand of an asset exceeds the supply, creating a significant gap.....
Crypto pundit Cobb has explained why a supply shock could be imminent for XRP. This follows the launch of two ‘33 Act XRP ETFs, including Bitwise’s fund, with more set to launch next week. Why XRP Could Soon Witness A Supply Shock In an X post, Cobb declared that a supply shock is coming for […]
As Ethereum’s price approaches new all-time highs, the coin’s supply shock seems to be deepening with exchange reserves declining 18% in the last five months. Ethereum Exchange Reserves Are Down 18% In The Last 5 Months As pointed out by a CryptoQuant post, ETH’s exchange reserves seem to have declined a lot in the last few months, signaling that a supply shock might be brewing in the crypto. The all exchanges reserve is an indicator that shows the total amount of Ethereum present in wallets of all exchanges. An increase in the metric’s value means investors are....
According to recent data from CryptoQuant, Ethereum (ETH) reserves on centralized cryptocurrency exchanges have dropped to a nine-year low. Experts suggest that this dwindling ETH supply could indicate an impending ‘supply shock,’ potentially fuelling a significant rally in the cryptocurrency. Ethereum Reserves At 9-Year Low Ethereum, the second-largest cryptocurrency by market cap, continues to trade within the mid-$2,000 range, sitting at $2,721 at the time of writing. Unlike Bitcoin (BTC), ETH has had a relatively quiet 2024, struggling to break past its all-time high (ATH) of $4,878,....