As the halving approaches, 90,000 BTC were withdrawn from cryptocurrency exchanges

The number of bitcoins held by cryptocurrency exchanges has been steadily declining. Last month, 90,000 BTC had been withdrawn from the exchange, while total reserves had fallen to a 6.5-year low.
Last month, about 90,000 BTC was withdrawn from cryptocurrency exchanges. The exchange's total Bitcoin reserves were reduced to 1.938 million BTC. This is the first time this level has occurred since December 2017.
If only spot exchanges are considered, the situation is even more dramatic. According to its data, Bitcoin holdings on spot exchanges dropped to 628,000 BTC. The last time reserves were so low was on January 21, 2015.
The decline in exchange assets means that while Bitcoin's liquidity supply is reduced, investors tend to hold it for the long term. Spot ETFs began trading in January and have since collected more than 500,000 BTC from the market and are considered the biggest factor. On the other hand, it is estimated that the positive expectation that the block reward will halve within two weeks is one of the reasons.
Based on available data, the halving will take place on April 20. Miners' reward of 6.25 BTC per block mined will be reduced to 3,125 BTC. As a result, the daily production of Bitcoin will decrease from 900 BTC to 450 BTC. Research shows that Bitcoin grew by an average of 3230% after the halving. Bitcoin gained 8858% after the first halving in 2012, 294% after the second halving, and 540% after the third halving.
#HotTopicDiscussion# #ContentSta# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #MyFancyCreato# #Gate post Highlights# #BountyCreator#
#BTC# #ETH# #GT# #SOL#