Exchange-held Bitcoin has reached its lowest point in years, with just 2.6 million BTC currently available. This trend is primarily driven by institutional investors buying up Bitcoin for the long haul. Analysts are closely watching this decline in exchange supply as it may impact market dynamics and create price fluctuations. Fidelity Digital Assets reports that many large companies, including Microstrategy, have been accumulating a significant portion of these Bitcoin holdings in cold storage. This suggests they intend to hold onto these BTC for the long term. 425,000 BTC were moved from exchanges into cold storage since November 2024. This shift in Bitcoin’s supply on exchanges may indicate a potential bullish market trend due to the scarcity effect, where reduced liquid supply can drive prices up. The market is keeping a close eye on price trends and further developments.