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Binance Research said four BTC on-chain indicators suggest available sell-side supply may be tightening. Nearly 60% of Bitcoin supply has n…

Binance Research said four BTC on-chain indicators suggest available sell-side supply may be tightening. Nearly 60% of Bitcoin supply has not moved for over a year, while exchange balances have fallen from 17.6% around the COVID-era peak to 15.0%, implying that roughly 500k BTC have left exchanges. The report also noted that SLRV remains near historical lows, suggesting subdued speculation, while BTC STH MVRV has moved back above 1.0 after staying below that level for much of the period since November 2024, indicating that short-term holders are rebuilding unrealized profits.
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