{"id":12532,"date":"2021-12-10T02:00:00","date_gmt":"2021-12-10T02:00:00","guid":{"rendered":"http:\/\/ci02944c4c30002481"},"modified":"2025-01-29T13:18:59","modified_gmt":"2025-01-29T13:18:59","slug":"bitcoin-exchange-balance-hits-three-year-low","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-exchange-balance-hits-three-year-low","title":{"rendered":"Bitcoin Exchange Balance Hits Three-Year Low"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><strong><em>The below is from a recent edition of the Deep Dive, Bitcoin Magazine&#8217;s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, <\/em><em><a href=\"http:\/\/deepdivebtc.substack.com\/welcome\" target=\"_blank\" rel=\"noopener\">subscribe now<\/a><a href=\"https:\/\/members.bitcoinmagazine.com\/\"><\/a><\/em><em>.<\/em><\/strong><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/4_bitcoin-balance-on-exchanges.png\" title=\"\"><\/figure>\n<p>Total bitcoin on exchanges has hit another three-year low today, with 2,408,237 BTC across all reported exchanges.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/bitcoin-balance-on-exchanges-2.png\" title=\"\"><\/figure>\n<p>When looking at the net daily transfer volume on exchanges with a 30-day moving average applied, it can be seen how different this recent sell-off and subsequent derivatives market liquidation was compared to the one seen in April\/May.<\/p>\n<p>During the May sell-off, 5,149 BTC were deposited per day on average during the peak of the sell-off. Comparatively, today 1,178 BTC have been withdrawn from exchanges per day on average over the last month.&nbsp;<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/bitcoin-net-transfer-volume-from-and-to-exchanges.png\" title=\"\"><\/figure>\n<p>We can also take the 30-day moving average of exchange netflow and adjust it by adjusted supply (circulating supply adjusting for lost coins). <\/p>\n<p>The green and red arbitrary thresholds are times when 0.7% of bitcoin\u2019s adjusted supply were withdrawn or deposited on exchanges respectively.&nbsp;<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/bitcoin-exchange-percentage-netflow.png\" title=\"\"><\/figure>\n<figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/deep-dive-25-promo.jpg\" title=\"\"><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The total bitcoin on exchanges has hit another three-year low, with 2,408,237 BTC reported.<\/p>\n","protected":false},"author":2736,"featured_media":5980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[485,85,381],"class_list":["post-12532","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bitcoin-exchanges","tag-bitcoin-magazine-pro","tag-hodl"],"author_data":{"id":2736,"name":"Dylan Leclair And Sam Rule","nicename":"dylan-leclair-and-sam-rule","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/2b6b26c44e1d269b6e0f99be25243a520901d88fba7899ea664ee1c543b3ff6d?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/img_6308.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/12532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2736"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=12532"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/12532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/5980"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=12532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=12532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=12532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}