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Bitcoin reserves on major exchanges drop nearly 100,000 BTC, tightening supply amid price support tests.

Market News
07 May 2026
Crypto news
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Bitcoin reserves on major exchanges Binance, OKX, and Gemini have decreased by nearly 100,000 BTC since February, reducing available supply by over $8 billion at current prices. This decline tightens market supply, potentially supporting Bitcoin's price near $81,300. Analysts highlight that Bitcoin must reclaim the $88,880 level to confirm strength and reduce selling pressure from newer buyers. Meanwhile, whale activity shows key support between $66,000 and $70,600, where large holders have defended their positions, suggesting a potential local bottom if Bitcoin stays above this range.

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