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

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.