Bitcoin Exchange Supply Hits Seven-Year Low Amid Increased Fund Inflows

According to PANews, recent data from CryptoQuant reveals that Bitcoin's supply on exchanges has reached its lowest point in seven years, dropping to 2.488 million BTC last Friday. Although the exchange reserves increased slightly over the weekend to 2.492 million BTC, this level remains the lowest since October 2018. CoinShares reported that Bitcoin funds saw an inflow of $3.2 billion for the week ending April 28. The combination of declining exchange balances and rising fund inflows suggests a new phase of accumulation may be underway. Notably, retail investors appear to have played a more significant role in the past week's price surge compared to previous weeks. This is evident in the 'exchange whale ratio,' which decreased from 0.512 on April 17 to 0.36 by April 27.