Bitcoin’s exchange balance drops to 5-year low as price hits $30K

2023-6-28 19:00

Since June 22, Bitcoin has been trading above the critical psychological level of $30,000. This price rally is a result of increased demand for the digital asset, a demand that is further exacerbated by the low availability of Bitcoin on exchanges.

One key metric that underscores this trend is the percentage of Bitcoin’s supply held on exchanges. Data from Glassnode measures the total amount of coins held on exchange addresses and calculates the percentage of the supply on exchanges.

When a large amount of Bitcoin is held on exchanges, it often indicates that investors are ready to sell their holdings, suggesting a bearish sentiment. Conversely, a decrease in the amount of Bitcoin on exchanges can imply that investors are moving their assets to private wallets for long-term holding, signaling a bullish sentiment.

Moreover, the amount of Bitcoin on exchanges directly impacts market liquidity. High liquidity means that there are a large number of market participants, and buyers will quickly absorb any large sell orders. However, if the amount of Bitcoin on exchanges decreases significantly, it could lead to lower liquidity. This means that large sell orders could drastically affect the market price, leading to increased volatility.

Therefore, tracking the amount of Bitcoin held on exchanges can provide valuable insights into potential market movements and investor sentiment.

Graph showing Bitcoin’s stacked balance on exchanges from January 1, 2016, to June 26, 2023 (Source: Glassnode)

The percentage of Bitcoin’s supply held on exchanges has been on a downward trajectory since the end of April when it reached its year-to-date (YTD) high of 12.16%.

Graph showing the percentage of Bitcoin supply held on exchanges YTD (Source: Glassnode)

However, a broader perspective reveals that the amount of Bitcoin held on exchanges has been in decline since March 2020, when it reached an all-time high of 17.51%.

The percentage of Bitcoin’s supply held on exchanges has now dropped to a five-and-a-half-year low of 11.71%, reaching levels last recorded in December 2017. This trend indicates a shift in investor behavior, with more holders opting to store their Bitcoin off exchanges, possibly in anticipation of future price appreciation.

Graph showing the percentage of Bitcoin supply held on exchanges from January 1, 2017, to June 26, 2023 (Source: Glassnode)

The post Bitcoin’s exchange balance drops to 5-year low as price hits $30K appeared first on CryptoSlate.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 71462.34 (-0.32%)
Объем 24H $46.138b
Изменеия 24h: 4.46 %, 7d: 5.45 %
Cегодня L: $69275.57 - H: $72014.77
Капитализация $1430.166b Rank 1
Цена в час новости $ 30588.86 (133.62%)

bitcoin price low demand increased result rally

Источник: cryptoslate.com

bitcoin price → Результатов: 126


Фото:

Latest data shows retail Bitcoin wallets can no longer control short-term BTC price moves

Bitcoin’s Price Is Being Set Further Away From Bitcoin Holders Bitcoin spent the end of March in a range that looked calm on the surface and unusually crowded underneath. By Monday, Bitcoin's price was trading around $67,000 after a week that had already pulled in one of the year’s largest derivatives events and another round […] The post Latest data shows retail Bitcoin wallets can no longer control short-term BTC price moves appeared first on CryptoSlate.

2026-3-30 12:58


Фото:

Bitcoin Short-Term Holders Capitulate As 22K BTC Flow To Exchanges

The price of Bitcoin succumbed to bearish pressure and fell to around $65,500 on Friday, while the geopolitical tensions between the United States, Israel, and Iran seem to worsen. According to a recent on-chain evaluation, this latest price decline appears to have been triggered by a panic-driven sell-off among the market’s most sensitive investor group.

2026-3-29 03:00


Bitcoin Price News: BTC Downside Risk Grows While Pepeto Presale Hits $7.42M and Dogecoin and Solana Remain Shaky

Bitcoin mining difficulty just hit a new all time high as hash rate climbs despite the price correction, proving miners are betting on long term recovery even as short term holders panic. But the bitcoin price news right now tells a different story, because BTC failed to reclaim key resistance and the drop below $67,000 […] The post Bitcoin Price News: BTC Downside Risk Grows While Pepeto Presale Hits $7.

2026-3-2 19:00


Фото:

Bitcoin reveals a rare bullish cycle bottom signal before bouncing as futures bears tighten their grip

Bitcoin is flashing its most oversold signal on record amid its continued price struggles in this current macroeconomic environment and persistent exchange-traded fund (ETF) outflows. According to CryptoSlate data, BTC's price dipped to around $62,700 over the last 24 hours, while its weekly relative strength index (RSI) printed roughly 25.

2026-2-26 21:10


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is Bitcoin’s 4-year cycle dead or are market makers in denial?

Bitcoin’s four-year cycle used to offer a simple script: halving rewards meant scarcity, and scarcity meant higher prices. This pattern held for over a decade. Every four years, the network’s reward to miners was halved, thereby tightening the supply, followed by a speculative frenzy that resulted in a new all-time high.