On-chain data released today by Glassnode shows Bitcoin’s supply held on exchanges dropped significantly after an estimated $2 billion in net purchases, pushing exchange balances toward a five-year low.
Glassnode’s report reveals a continued downward trend in Bitcoin available for trading on centralized platforms, indicating a growing share of coins being withdrawn to private wallets or long-term holdings. Less supply on exchanges means reduced immediate liquidity, which could amplify price volatility if demand spikes or major sell orders hit the market.
Analysts observing the trend warn that the shrinking exchange supply may limit the pool of BTC available for quick sale — adding a layer of scarcity that could magnify future market moves. The coming days will be critical: if outflows persist and inflows remain limited, price swings could intensify, especially if macro or external factors stir renewed interest.
Source: Glassnode.
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