Data from CryptoQuant shows a significant drop in the amount of Bitcoin currently held on major cryptocurrency exchanges.
The total amount of Bitcoin held on cryptocurrency exchanges has dropped to under 2.708 million BTC. This represents the lowest level of Bitcoin available on exchanges since November 2018, indicating reduced liquidity.
The leading cryptocurrency is currently hovering slightly above the $70,000 level.
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The great coin exodus
Bitcoin’s price and the amount of Bitcoin held on major exchanges have been moving in opposite directions for a while now, and this trend is expected to continue for some time.
Bitcoin exchange reserves reached a high of more than 3.5 million BTC during the peak of the last major bull markets, which occurred between 2020 and 2022.
The recent, ongoing trend began after several challenges rocked the industry in late 2022.
Throughout 2023, 2024, and into early 2026, the blue line has been on a downward trajectory.
As a researcher tracking Bitcoin, I’ve observed a significant trend: Bitcoin reserves held by exchanges have decreased considerably, now down to around 2.7 million BTC. Interestingly, this decrease has coincided with Bitcoin’s price rebounding and approaching its previous record highs.
The days of users keeping their portfolios idle on trading platforms appear to be effectively over.
The recent approval and popularity of spot Bitcoin ETFs in the U.S. have dramatically altered how Bitcoin is supplied. Large institutional investors are now buying billions of dollars worth of BTC directly from the market.
Another key driver is that large companies are starting to buy and hold Bitcoin as part of their assets. For example, Strategy Inc. (MSTR) is actively adding BTC to its balance sheet.
The market is currently experiencing a shortage of readily available cash, and this could lead to a significant disruption in the supply of goods and services.
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2026-03-06 10:48