Bitcoin's supply on exchanges hits nearly a 6-year low

BlockBeats News, October 6th, according to glassnode data, Bitcoin's supply on exchanges hit a nearly 6-year low, just slightly above 2.8 million coins.

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On-Chain Activity

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Abraxas Capital's two major hedge accounts have cumulatively exceeded $520 million in profits.

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A certain whale has cumulatively transferred 4,637 ETH back to Galaxy Digital, valued at approximately $10.1 million.

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BIT-affiliated entities have accumulated $155 million in BTC and ETH long positions, with current unrealized losses of $44.06 million.

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A whale spent $1.5 million USDT to buy 786.16 ETH and transferred it to a new address.

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Abraxas Capital's two major hedge accounts have cumulatively exceeded $520 million in profits.

Analysis: Bitcoin's active supply in loss surpasses profit, historical patterns point to a cyclical bottom

BIT-affiliated entities have accumulated $155 million in BTC and ETH long positions, with current unrealized losses of $44.06 million.

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