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Bitcoin Exchange Balances At Three-Year Lows

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The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

With bitcoin price falling below $60,000, let’s revisit the current state of exchange balances and bitcoin exchange flow activity. At a macro level, the decline in bitcoin supply on exchanges continues with the percentage of bitcoin on exchanges of circulating supply hitting another three-year low yesterday. The secular exchange balance decline that started in March 2020 has not changed.

Source: Glassnode

Source: Glassnode



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