Bitcoin Remains Stable Amid Rising Outflows and Regulatory Pressures

As Bitcoin (BTC), the world’s largest cryptocurrency by market value, enters an accumulation phase, it has been trading around $26,000 in recent days. While the price has been quiet, there has been an increase in Bitcoin outflows from cryptocurrency exchanges, following lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase. BTC Supply on Cryptocurrency Exchanges at a 5-Year Low According to on-chain analytics platform Santiment, amid escalating regulatory pressures, users opting for self-custody has caused the supply of BTC on exchanges to recede to its lowest level in the past five years. Santiment said, “The supply of Bitcoin on exchanges is at its lowest level since February 2018. Investors continue to take their Bitcoins into their own custody due to uncertainties surrounding Binance and Coinbase. As long as the SEC’s pressure continues, this trend is expected to persist.” Furthermore, the analytics platform noted a clear […] The post Bitcoin Remains Stable Amid Rising Outflows and Regulatory Pressures appeared first on COINTURK NEWS.