From Cointelegraph: 2024-05-20 03:18:34

Bitcoin is experiencing a supply shock as exchange reserves hit seven-year lows. The BTC price action is now focused on breaking final resistance levels.

Investors are anticipating a potential surge in Bitcoin prices as the exchange reserves for the cryptocurrency reach their lowest levels in seven years. This has prompted renewed calls for a supply shock in the market.

BTC’s price movement is currently centered on breaking through its final resistance levels. Market analysts are closely monitoring how Bitcoin will react to this key milestone in its price action.

Read more at Cointelegraph: ETFs buy 3X new BTC supply — 5 Things to know in Bitcoin this week