Bitcoin exchanges now own 16% less BTC than the oldest hodlers
"Wild" data shows that more of the BTC supply has been dormant for at least a decade than that available for purchase on exchanges. Bitcoin (BTC) exchanges have less BTC to buy than at any time since early 2018, the latest data shows. On-chain analytics firm Glassnode confirms that as of February 2023, ex change reserves are at five-year lows. "Wild stat" shows Bitcoin supply maturation The latest statistics to reflect the determination of Bitcoin hodlers, major exchanges’ BTC balances are in “down only” mode. As of Feb. 27, the latest date for which data is available, the platforms tracked by Glassnode held a combined 2,272,798 BTC. It was in March 2018 that the number was so low, which March 2020 represents the current all-time high of 3,202,326 BTC. The moment of the COVID-19 cross-market crash, from then on, exchange reserves began to fall, accelerating through the 2022 bear market to stand 29% lower now. Bitcoin exchange balance chart. Source: Glassnode The i...