Stock Markets3 hours ago (Mar 20, 2022 19:40)
According to the Blockchain analytics firm Santiment, the overall supply of Bitcoin (CRYPTO: BTC) on crypto exchanges has slipped down to its lowest level in over three years.
As of March 17, the total supply of Bitcoin on crypto exchanges was only 10.25% of its total supply or 1,946,069.41 BTC.
Also Read: Ethereum Classic Soars On Reaction To Key Pattern, Miners Gain Interest: Is A Golden Cross On The Way?
Santiment also points out that the recent price spike in BTC was triggered by a cascade of short sellers being liquidated as the value of Bitcoin moved higher, triggering a short squeeze.
Price Check: Bitcoin was trading at $41,156.59 on Sunday afternoon, down 1.82% in the past 24 hours.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga
Bitcoin Supply On Exchanges Drops To Lowest Level Since December 2018
By Jonathan Stempel (Reuters) – U.S. prosecutors have charged a former Apple Inc (NASDAQ:AAPL) employee with defrauding the iPhone maker out of more than $10 million in a series…
Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) are all trading higher in strong uptrends. An uptrend occurs when a stock consistently makes a series of…
In a recent tweet, Founder and Chief Executive Officer of Grayscale DCG, Barry Silbert compared cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Ripple (CRYPTO:…
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.