Bitcoin is trading between 92,000 USD and 94,000 USD, priced at 93,750 USD. The range indicates moderate volatility, while exchange deposits have significantly decreased, suggesting strong investor interest in holding BTC rather than selling.
BTC deposits to exchanges have plunged to around 30,000 BTC per day, a record low since 2016. Comparatively, the average in previous bull markets was 90,000 BTC, indicating a significant shift in investor behavior towards holding.
The reduction in available BTC on exchanges suggests a possible supply shortage. With fewer BTC for sale on the market, this trend may lead to upward price pressures, reinforcing the bullish sentiment among traders.