The Bitcoin exchange balance has jumped to its lowest level since July 2024 as the broader market takes a major shift. According to insight from Glassnode, this exchange BTC supply has now dropped below the 3,000,000 support zone.
Bitcoin Exchange Balance: Historical Trend
Per the Glassnode data, the total BTC on centralized trading platforms as of July 2024 came in at 3.1 million. However, at the moment, this balance has dropped to 2.74 million BTC, underscoring the asset’s depletion rate.
The Glassnode insight came with a chart showing the BTC exchange balance since at least 2016. At the time, the premier coin gradually increased from 1 million BTC in 2017 to 3 million BTC in 2019. During this period, the price of Bitcoin ranged from $1,000 to around $17,000.
The total Bitcoin exchange balance attained an all-time high around June 2022, with 3.3 million BTC lodged on trading platforms. However, there has been a gradual decline in this metric, which dropped to a low of 2.74 million
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