{"id":337460,"date":"2021-09-10T16:29:38","date_gmt":"2021-09-10T13:29:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support\/"},"modified":"2021-09-10T16:29:38","modified_gmt":"2021-09-10T13:29:38","slug":"bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support\/","title":{"rendered":"# Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price support"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3da7985f768\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3da7985f768\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support\/#Time_for_another_Bitcoin_%E2%80%9Csell-side_liquidity_crisis%E2%80%9D\" >Time for another Bitcoin \u201csell-side liquidity crisis?\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support\/#Bitcoin_support_levels_suggest_43000_floor\" >Bitcoin support levels suggest $43,000 floor<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price support <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows.<\/p>\n<p>As <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1436258052533981188\">noted<\/a> by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Time_for_another_Bitcoin_%E2%80%9Csell-side_liquidity_crisis%E2%80%9D\"><\/span>Time for another Bitcoin \u201csell-side liquidity crisis?\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of Thursday, the latest date for which figures are available, there was 2.399 million BTC available across major exchanges. May\u2019s low measured 2.390 million.<\/p>\n<p>Bitcoin traders have thus reversed a deposit trend that ensued during the mid-May price upheaval, which points to a clear return to an investment-focused \u2014 not speculation-focused \u2014 mentality.<\/p>\n<p>\u201cHope to see another sell-side liquidity crisis on Bitcoin,\u201d Ki added in comments.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/c2915dc5-3b14-4286-b2d5-bd4090f0c436.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange reserves vs. BTC\/USD chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Such a crisis, or \u201csupply squeeze,\u201d has formed a common narrative in recent weeks, reinforced by healthy buying up of excess liquidity from Tuesday\u2019s price dip.<\/p>\n<p>It\u2019s not just retail \u2014 derivatives platforms have also seen major withdrawals of BTC this week, while the overall BTC supply is becoming less mobile.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1436287220068012051\/\">Data<\/a> from fellow on-chain analytics firm Glassnode confirmed that on Friday, the section of the supply, which last moved one to two years ago, reached a three-year low.<\/p>\n<p>Those who last moved BTC to an address between September 2019 and September 2020 are, therefore, not touching their holdings.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/ae339b8b-e0bd-4954-b718-451cef883dc5.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC supply last active 1-2 years ago chart. Source: Glassnode\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_support_levels_suggest_43000_floor\"><\/span>Bitcoin support levels suggest $43,000 floor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BTC\/USD continued to trade below $46,000 at the time of writing Friday.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price risks losing weekly uptrend as NFT launch sends Tezos (XTZ) to 3-month highs<\/em><\/strong><\/p>\n<p>In his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=lnwFJqstKmA\">YouTube update<\/a>, Cointelegraph contributor Micha\u00ebl van de Poppe denied any idea that Bitcoin had entered a bear market, with nearby levels tipped to provide support.<\/p>\n<p>These are $45,700, which should give way to between $43,000 and $44,000 if it fails.<\/p>\n<p>\u201cOn the upside, we also know that $46,700 is still a very important resistance level,\u201d he added.\u00a0<\/p>\n<blockquote><p>\u201cIf that cracks, I think the chances that we\u2019re going to break through $47,500 all the way towards $50,000 is significant, and that will bring strength to the altcoin markets as the altcoins will just follow suit.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/2436eef8-715d-4e51-acab-3b6c9d055151.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-exchange-reserves-near-record-low-with-traders-eyeing-43k-btc-price-support\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin exchange reserves near record low, with traders eyeing $43K BTC price support &#8221; Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows. As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early&#8230;<\/p>\n","protected":false},"author":1,"featured_media":337461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvMzkwOTFmZmItMGVlZS00NzVlLTg0ZjktNTJhOTk5MjVkMGUyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,73785],"class_list":["post-337460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/337460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=337460"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/337460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/337461"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=337460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=337460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=337460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}