“A lot of crypto exchanges keep some Bitcoin or rupee in their reserves or their cold wallets for long-term storage, and you know it’s like they keep circulating the same cryptos with new users. But whenever there is a situation like this where people want to withdraw their crypto all at once, it takes a toll on the entire matching system. Also, another reason is that right now, the exchanges just have 2.4 million Bitcoins out of 19 million in circulation. So, this clearly indicates that the exchanges are running dry,” says Sidharth Sogani, CEO of CREBACO Global, a crypto data provider platform.