Bitcoin Sitting on Exchanges Drops to 3Year Low

With bitcoin losing nearly half its value at one point a week ago and marking an 18-month low, the asset’s situation seemed gloomy at best. However, there are some positive signs as investors have been continuously withdrawing their BTC holdings from exchanges.A lot has been said about what transpired in the crypto market in the past several weeks, starting from the end of March when BTC was close to $50,000. After failing at that point, the asset began what later became the longest negative streak in terms of consecutive weekly candles in the red (9).