Bitcoin & Ethereum Exchange Reserves Plummet: Signs of Price Momentum

Ethereum surged 8% to $2,537 amidst leadership shifts at the foundation. Analysts attribute this rise to supply squeeze risks and dwindling exchange liquidity, suggesting price potential for sustained momentum. Bitcoin’s available supply on exchanges has dropped to 7.1%, matching levels last seen in November 2018, a trend often associated with price rallies. Reduced exchange liquidity could amplify upward pressure if demand increases.