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Bitcoin supply on exchanges hits lowest level since Dec 2018 as long-term holders’ balances soar

As the amount of Bitcoin held by long-term investors skyrockets to unprecedented levels, the token's supply on cryptocurrency exchanges has continued its downward trend, dipping to its lowest level in 39 weeks.

Specifically, the total supply of Bitcoin on crypto exchanges as of March 17 was only 10.25% of its total supply or 1,946,069.The platform also noted 13.5% less Bitcoin in the wallets on these exchanges compared to two months before, during which time the BTC's overall supply had dropp