Bitcoin exchange reserve metric hits 3-year low
Low exchange balances indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin.
The Bitcoin exchange reserve, the total amount of Bitcoin available on exchanges, has dropped to a 3-year low, according to data from June 19, 2024.
Analytics from CryptoQuant revealed that there are currently 2,825,703 Bitcoin (BTC) left on exchanges. During January 2024, the Bitcoin exchange balance hovered at around 3,039,000.
Low exchange reserves, sometimes called exchange balance, indicate low selling pressure and potential supply shocks due to the relatively low supply available for purchase.
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Author: Vince Quill
