The amount of Bitcoin stored on crypto exchanges has reached a new supply low, which may be the catalyst that Bitcoin needs to successfully retest and properly move back above $60,000. “With Bitcoin reserves on exchanges hitting new lows for the year, this could indicate reduced selling pressure, potentially favoring a bull market if demand also continues to grow,” CryptoQuant contributor Gaah highlighted in an Aug. 29 analyst note. According to CryptoQuant data, Bitcoin (BTC) reserves on exchanges have decreased by approximately 12.9% since Jan. 1, leaving a total of 2.62 million Bitcoin acro…