Bitcoin exchanges now own 16% less BTC than the oldest hodlers

Bitcoin (BTC) exchanges person little BTC to bargain than astatine immoderate clip since aboriginal 2018, the latest information shows.

On-chain analytics steadfast Glassnode confirms that arsenic of February 2023, speech reserves are astatine five-year lows.

"Wild stat" shows Bitcoin proviso maturation

The latest statistic to bespeak the determination of Bitcoin hodlers, large exchanges’ BTC balances are successful “down only” mode.

As of Feb. 27, the latest day for which information is available, the platforms tracked by Glassnode held a combined 2,272,798 BTC.

It was successful March 2018 that the fig was truthful low, which March 2020 represents the existent all-time precocious of 3,202,326 BTC.

The infinitesimal of the COVID-19 cross-market crash, from past on, speech reserves began to fall, accelerating done the 2022 carnivore marketplace to basal 29% little now.

Bitcoin speech equilibrium chart. Source: Glassnode

The awesome numbers meantime bash not extremity there.

As noted by William Clemente, co-founder of Bitcoin-focused probe steadfast Reflexivity, the speech equilibrium lows mean that they present clasp little BTC than that the oldest hodler addresses.

“There is present much Bitcoin that hasn't moved successful astatine slightest 10 years than determination is connected exchanges. Wild stat,” helium commented connected Feb. 28.

Further Glassnode information puts the full BTC present dormant for 10 years oregon much astatine 2,645,956 BTC — 16% much than the full speech balance.

BTC proviso past progressive 10+ years agone chart. Source: William Clemente/ Twitter

No panic selling here

As Cointelegraph reported, hodlers person stepped up their resilience successful 2023 aft weathering a brutal carnivore marketplace passim the past year.

Related: BTC whale colonisation shrinks to aboriginal 2020 levels — 5 things to cognize successful Bitcoin this week

Even arsenic BTC terms enactment began heading higher, the hodling continued, with constricted income combining with expanding exposure.

That inclination shows small motion of reversing astatine existent levels, with hodlers' combined nett presumption alteration reaching four-month highs this weekend.

Bitcoin hodler nett presumption alteration chart. Source: Glassnode/ Twitter

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