BTC Exchange Reserves Hit 2019 Lows as ETFs and Corporate Treasuries Lock Up Supply

TLDR: BTC exchange reserves have fallen to roughly 2.7 million BTC, matching levels last recorded in 2019. The FTX collapse in November 2022 triggered a loss of over 325,000 BTC from exchanges in one month. Spot Bitcoin ETFs launched in January 2024 and have since accumulated around 1.3 million BTC total. Corporate treasury firms now [...]

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