• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Exchange Reserve Takes Further Beating, Now Lowest Since August 2018

Hououin Kyouma by Hououin Kyouma
2 months ago
in Bitcoin
0

On-chain data shows the Bitcoin exchange reserve has taken a further beating this March, and has now reached the lowest value since August 2018.

Bitcoin Exchange Reserve Loses 96k BTC Over The Past Month

As per the latest weekly report from Glassnode, the BTC exchange reserve lost around 96k BTC over the course of March.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The “balance on exchanges” is an indicator that measures the total amount of Bitcoin stored in wallets of all exchanges.

When the value of this indicator goes up, it means investors are depositing a net amount of coins right now. Such a trend may be bearish for the price of the crypto as holders usually transfer their crypto to exchanges for selling purposes.

On the other hand, a downtrend in the reserve indicates that a net amount of coins is leaving exchanges at the moment. Naturally, this kind of trend can be bullish for the price as it may imply investors are in a phase of accumulation currently.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Now, here is a chart that shows the trend in the Bitcoin exchange reserve over the past few years:

Bitcoin Exchange Reserve

Looks like the value of the metric has observed decline recently | Source: Glassnode's The Week Onchain - Week 14, 2022

As you can see in the above graph, the Bitcoin exchange reserve had been moving mostly sideways since September of last year.

However, last month finally the indicator seems to have broken out of consolidation, and now looks to be heading downwards again.

Related Reading | Latest Trend In Bitcoin Realized Cap Suggests A Bullish Pattern

The current balance on exchanges amounts to around 2.47 million BTC, having observed a deduction of about 96k BTC over the past month. This value of the reserve is now the lowest it has been since August 2018.

Both the Bitcoin rallies that took the price to new all-time highs in 2021 were preceded by a downtrend in the indicator.

As the metric has now broken out of sideways movement and looks to be continuing a similar downtrend again, the price may also observe a similar effect as during those previous instances.

Related Reading | Bitcoin 2022 Miami Preview: What To Expect From Crypto’s Biggest Conference

However, it’s not a certainty as any wave of selling can quickly take the exchange reserve back to a higher level, erasing this drop.

BTC Price

At the time of writing, Bitcoin’s price floats around $46.8k, down 2% in the last seven days. Over the past month, the crypto has gained 19% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the price of BTC has been mostly consolidating sideways over the last few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Methane, oil rig

ESG Study: Methane-Fueled Bitcoin Mining Can Eliminate 5.32% Of Global Emissions

17 hours ago
Bitcoin

Bitcoin Supply In Profit Drops To 55%, Is The Bottom Here Yet?

1 day ago
Bitcoin

Bitcoin Superfan Jack Dorsey Bids Adios To Twitter Board  

2 days ago
Bukele, McCormack screenshot from the documentary

Let’s Dissect McCormack’s “Follow The Money #1” Documentary, Pt. 3- Bukele

2 days ago
Bitcoin Transaction Fees Remain Historically Low Despite Recent Spike

Bitcoin Transaction Fees Remain Historically Low Despite Recent Spike

2 days ago
IMF

IMF Boss Begs Investors Not To Shun Crypto Despite Market Crash

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.