Bitcoin’s price could soon move upwards as the supply of the leading cryptocurrency on exchanges shrinks. According to a researcher at CryptoQuant, bitcoin on exchanges has dropped to 2.67 million from 2.8 million since February. The cryptocurrency was recently trading around $83,485, up 8% over the past 30 days after its best quarter in years. Analysts note that exchange reserves continue to decline even as the market recovers, which could create a supply-demand imbalance favorable to a longer-term upward trend. However, bitcoin remains more than 30% below its record high of $126,080 hit in October 2025.
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