The supply of Bitcoin on trading platforms has dropped to a 5-year low, with only 11.5% of the total circulating supply being present on centralized exchanges. This is due to increased HODLing activity from long-term holders who acquired their coins before the bear market of 2022.
As a result, future buyers may have to pay significantly higher prices to persuade these diamond hands to sell their holdings.
Despite the dip in available BTC, investors are still drawn towards the bullish capabilities of the cryptocurrency, especially with the halving event less than a year away.
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