Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows.
As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May.
Time for another Bitcoin “sell-side liquidity crisis?”
As of Thursday, the latest date for which figures are available, there was 2.399 million BTC available across major exchanges. May’s low measured 2.390 million.
Bitcoin traders have thus reversed a deposit trend that ensued during the mid-May price upheaval, which points to a clear return to an investment-focused — not speculation-focused — mentality.
“Hope to see another sell-side liquidity crisis on Bitcoin,” Ki added in comments.