BlocksInform
Bitcoin () exchanges have less BTC to buy than at any time since early 2018, the latest data shows.
On-chain analytics firm Glassnode confirms that as of February 2023, exchange reserves are at five-year lows.
"Wild stat" demonstrates the maturation of the Bitcoin offer.
The latest statistics to reflect the determination of Bitcoin hodlers, the main trade' BTC balances are in "down only" fashion.
As of February 27, the most recent date for which data are available, the glassnode platforms contained a combination of 2,272,798 BTC.
The number was so low in March 2018, which is the current record of 3,202,326 btc for March 2020.
As COVID-19 cross-market collapses, foreign reserves began to fall, accelerating through the 2022 bear market to 29% below now.
This is not the end of the impressive figures.
As noted by William Clemente, co-founder of Bitcoin-focused research firm Reflexivity, the exchange balance lows mean that they now hold less BTC than that the oldest hodler addresses.
"There is now more bitcoin that hasn't budged in at least ten years than there is on trade. Savage statistics," he said in February. 28.
According to other Glassnode data, the total BTC has now been inactive for 10 years or more at 2,645,956 BTC, 16 per cent more than the total foreign exchange balance.
There's nothing to panic about selling here.
As Cointelegraph reported, hodlers have stepped up their resilience in 2023 after weathering a brutal bear market throughout the past year.
Related: BTC whale population shrinks to early 2020 levels — 5 things to know in Bitcoin this week
Even as BTC price action began heading higher, the hodling continued, with limited sales combining with increasing exposure.
This trend shows little evidence of reversal at current levels, with the combined net position shift of Hodlers hitting four-month highs this weekend.
