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Market News Overview
Bitcoin exchange reserves decline
Recently, the reserves of global Bitcoin exchanges have seen a significant decline. According to the latest data from CryptoQuant, this number has dropped to the lowest point in nearly three years.
Currently, the total amount of Bitcoin in the exchange is approximately 2,825,703 coins, compared to 3,039,000 coins in January 2024, showing a significant decrease trend.
This change means that the available supply of Bitcoin in the market is shrinking, which may have two effects on the market: On the one hand, the reduced supply may alleviate selling pressure, providing some support for the price of Bitcoin; on the other hand, the tightening supply may also lead to potential supply shocks, thus increasing market volatility.