Something interesting is happening with Bitcoin supply. 👀
For weeks, BTC was steadily leaving exchanges, creating expectations of a potential supply squeeze.
That trend has now reversed.
Santiment data shows roughly 28,000 $BTC moved back to exchanges in the first three weeks of August, recovering about 84% of the coins that left during the summer.
Exchange balances are now close to their June high, with around 1.332M BTC sitting on platforms.
This doesn’t automatically mean a dump is coming.
But it does mean more BTC is becoming liquid and potentially available for selling.
With $BTC consolidating around $63.5K, exchange supply is definitely worth watching.
Sometimes the most important market signal isn’t the chart. It’s where the coins are moving.
For weeks, BTC was steadily leaving exchanges, creating expectations of a potential supply squeeze.
That trend has now reversed.
Santiment data shows roughly 28,000 $BTC moved back to exchanges in the first three weeks of August, recovering about 84% of the coins that left during the summer.
Exchange balances are now close to their June high, with around 1.332M BTC sitting on platforms.
This doesn’t automatically mean a dump is coming.
But it does mean more BTC is becoming liquid and potentially available for selling.
With $BTC consolidating around $63.5K, exchange supply is definitely worth watching.
Sometimes the most important market signal isn’t the chart. It’s where the coins are moving.