The analytics firm Glassnode has revealed that exchanges haven’t been bleeding Bitcoin, at least not to the degree many previously thought.
Bitcoin Exchange Reserve Has Only Seen A Minimal Decrease In Recent Years
The exchange balance, a measure of the total amount of Bitcoin sitting in the wallets of centralized exchanges, has often been a hot topic in the on-chain analysis community.
Investors use these platforms for selling-related purposes, so many look at the exchange balance as a sort of reflection of the “available” trade supply of the cryptocurrency.
In recent years, an interesting pattern has emerged in this supply sitting on the exchanges, with its value observing a constant decline. This suggested that investors were continuously taking coins out, thus decreasing the asset’s potential sell supply.
The trend made some community members think Bitcoin was heading towards a supply shock. There was, however, also opposition to the idea, with questions around
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