Bitcoin CEX supply drops to seven-year low, now at 2.492 million

according to Decrypt, CryptoQuant data shows that the supply of Bitcoin on trading platforms has dropped to a seven-year low, falling to 2.488 million BTC last Friday. The trading platform reserves currently stand at 2.492 million BTC, increasing by about 40,000 BTC over the weekend, but still at the lowest level since October 2018. CoinShares reported that as of the week ending April 28, Bitcoin fund inflows reached $3.2 billion. The dual factors of decreasing foreign exchange balances and increasing fund inflows indicate that a new phase of accumulation is imminent. Retail investors seemed to play a larger role in the past week's rally than in recent weeks. This is more evident in the "trading platform whale ratio", which has dropped from 0.512 on April 17 to 0.36 on April 27.