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Dec 1, 2023

Bitcoin's Exchange Supply Hits 6-Year Low Amid Turmoil

Bitcoin's supply on exchanges drops to 5.38%, a level not seen since December 2017.

Supply Plummet

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Recent exchange collapses, including FTX and Binance's legal troubles, contribute to the downward trend.

Exchange Woes

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FTX, led by Sam Bankman-Fried, filed for bankruptcy in 2022, causing substantial losses for investors.

FTX Bankruptcy

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Binance, the world's largest crypto exchange, settles money-laundering charges, paying a $4.3 billion fine.

Binance Fallout

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Binance's former CEO, Changpeng Zhao, steps down amid the turmoil, replaced by Richard Teng.

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Leadership Change

vShift to self-custody methods seen as bullish, reducing immediate selling pressure on Bitcoin.

Self-Custody Surge

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BTC's price surges 130% in 2023, sparking optimism among analysts.

Bitcoin's Bullish Streak

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Analyst PlanB foresees a potential spike to $65,000 post-2024 halving and a staggering $524,000 by 2027, anticipating a more explosive bull cycle than 2021.

Bold Predictions

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