Key facts
- Approximately 259,000 BTC were accumulated in the last 10 days.
- Wallets ranging from less than 1 BTC to 1,000 BTC participated in buying Bitcoin.
- The amount of Bitcoin available on exchanges has fallen to a five-year low.
In the past 10 days, Bitcoin buyers have accumulated a significant amount of the cryptocurrency, totaling approximately 259,000 BTC. This accumulation has been observed across a wide range of wallet sizes, from those holding less than 1 BTC to those holding up to 1,000 BTC. Concurrently, the supply of Bitcoin available on cryptocurrency exchanges has dropped to sustained levels not seen in five years. This reduction in exchange supply, coupled with increased buyer activity, suggests a potential supply squeeze in the market.