The total supply of Bitcoin on exchanges has dropped to 2.488 million BTC, signifying a seven-year low. Although exchange reserves increased slightly over the weekend, they remain low compared to historical levels.
Despite the decrease in supply, Bitcoin funds reported inflows of $3.2 billion in the week leading up to April 28, indicating renewed interest and accumulation from traders.
As of recent reports, Bitcoin’s price has surged to $95,310, partially due to better trade relations with China. The current environment points to increased retail participation in Bitcoin trading.
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