Bitcoin's supply on crypto exchanges has significantly dropped, indicating reduced selling pressure.
The supply ratio of Bitcoin on exchanges is at its lowest level since February 20, 2018, showing that investors are at ease holding BTC for the long haul.
The decline in exchange balances is associated with bullish conditions, reducing the likelihood of profit-taking and potentially setting the stage for a price surge.
Bitcoin whales, who had been decreasing their supply, are now accumulating more BTC, indicating a change in their behavior.