The Bitcoin price has somewhat slowed down since reaching the unprecedented high of $73,000, moving mostly sideways since mid-March. However, with the halving event less than a fortnight away, all eyes will be on the premier cryptocurrency and all that pertains to it over the next couple of weeks. According to a recent on-chain observation, the BTC supply on exchanges has been on a steady decline over the past few months. This trend has sparked discussions on what this could mean for the Bitcoin price, both in the short and long term. $7.55 Billion Transferred Out Of Exchange Wallets In The Past Month Prominent crypto pundit Ali Martinez took to the X platform to share that a significant amount of Bitcoin has been moved out of crypto exchanges over the past month. The relevant metric here is Glassnode’s Balance on Exchanges, which tracks the total amount of a cryptocurrency (Bitcoin, in this case) held across all exchange addresses. Related Reading: Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here? A decrease in th ..
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