Bitcoin: A falling supply on exchanges is a sign of…

A major reason behind this development could be declining trust in CEXs such as Binance and Coinbase. This happened as both the major CEXs had separate episodes with the United States Securities and Exchange Commission .highlighting the aftermath of a decline in supply on exchanges. As per the analysis, the movement from CEX to self-custody helps to increase the adoption of self-custody.

However, it also decreases the volume of trading on these platforms, which in turn lowers the overall liquidity of the order books.Coinglass’ data suggested that BTC’s price chart might continue to be red in the coming days. The possibility was revealed by ’s open interest, which registered an uptick on 6 June only to fall down on 7 June. However, as of 14 June, it moved in a sideways direction. Increasing open interest represents new or additional money coming into the market.

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