The number of Bitcoin available on exchanges is at a five-year low. There are several reasons for this, including increasing acceptance and high demand for Bitcoin, increased interest from institutions, long-term hodling by investors, and shortages due to the upcoming halving of Bitcoin, which is expected to take place in 2024 and will further reduce the supply of new Bitcoin entering the market. In addition, investors are withdrawing their Bitcoins from exchanges and storing them in cold storage wallets for security reasons or to benefit from a potential price increase.

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