Posted 4/16/2024, 2:01:40 PM
Bitcoin Faces Supply Crunch as Exchange Reserves Hit Multi-Year Lows Ahead of Halving
- Bitcoin supply on exchanges will run out in 9 months due to upcoming halving and demand from Bitcoin ETFs
- Bitcoin reserves on centralized exchanges fell to near 3-year low of 1.94 million BTC
- Bybit expects Bitcoin prices to keep climbing due to impending supply squeeze
- Institutional interest rising - weekly inflows to Bitcoin ETFs over $199 million last week
- Bybit predicts more institutions will gain Bitcoin exposure through ETFs and proxy stocks
