Over the past three weeks, more than 100,000 Bitcoin have been withdrawn from cryptocurrency exchanges, with over $312 million worth of Bitcoin pulled from Binance alone in the last 12 hours following the U.S.-China trade deal. This large-scale movement of Bitcoin has led to a substantial decrease in Bitcoin reserves on exchanges, with only approximately 2.4 million Bitcoin remaining available. Market observers describe this trend as a potential supply shock, suggesting that major holders, or whales, may be anticipating significant market developments.
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