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Bitcoin exchange deposits hit three-year low

Data via Glassnode

Exchange withdrawals are starting to outpace deposits for the first time since SVB collapse as investors hesitate to part with their BTC.

James Van Straten
May. 15, 2023 at 12:45 pm UTC
1 min read
Updated: May. 15, 2023 at 12:37 pm UTC

Quick Take

  • Bitcoin exchange deposits hit a three-year low.
  • While exchange withdrawals are starting to outpace deposits for the first time since the SVB collapse back in March.
  • This suggests fewer investors are willing to part with their Bitcoin and send it to exchanges.
  • This isn't suggesting withdrawals are increasing. They are staying relatively flat, emphasizing the deposits falling rapidly.

Bitcoin exchange deposits = 45,000 Bitcoin

Bitcoin exchange withdrawals = 51,176 Bitcoin

Exchange Dominance: (Source: Glassnode)
Exchange Dominance: (Source: Glassnode)

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