Bitcoin Exchange Supply Only Slips Further Despite Price Decline

On-chain data shows that the Bitcoin exchange supply has only continued to slip further recently despite the price drop to the $29,200 that BTC has observed.
Bitcoin Exchange Supply Has Declined To Just 1.17 Million BTC Now
According to data from the on-chain analytics firm Santiment, the latest decline in the price doesn’t look to have triggered a severe reaction from the market yet.
The relevant indicator here is the “supply on exchanges,” which measures the total amount of B