{"id":557554,"date":"2023-02-28T12:22:02","date_gmt":"2023-02-28T09:22:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\/"},"modified":"2023-02-28T12:22:02","modified_gmt":"2023-02-28T09:22:02","slug":"bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\/","title":{"rendered":"# Bitcoin exchanges now own 16% less BTC than the oldest hodlers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a27076c7e484\" 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-6a27076c7e484\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\/#%E2%80%9D_Bitcoin_exchanges_now_own_16_less_BTC_than_the_oldest_hodlers_%E2%80%9C\" >&#8221; Bitcoin exchanges now own 16% less BTC than the oldest hodlers &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\/#%E2%80%9CWild_stat%E2%80%9D_shows_Bitcoin_supply_maturation\" >\u201cWild stat\u201d shows Bitcoin supply maturation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\/#No_panic_selling_here\" >No panic selling here<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_exchanges_now_own_16_less_BTC_than_the_oldest_hodlers_%E2%80%9C\"><\/span>&#8221; Bitcoin exchanges now own 16% less BTC than the oldest hodlers &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>The latest data shows that Bitcoin (BTC) exchanges have less BTC to buy than at any time since early 2018.<\/p>\n<p>On-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=distribution.BalanceExchanges&amp;s=1514219687&amp;u=1677542400&amp;zoom=\">Glassnode<\/a> confirms that as of February 2023, exchange reserves are at five-year lows.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CWild_stat%E2%80%9D_shows_Bitcoin_supply_maturation\"><\/span>\u201cWild stat\u201d shows Bitcoin supply maturation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The latest statistics reflect the determination of Bitcoin hodlers, as major exchanges\u2019 BTC balances are in \u201cdown only\u201d mode.<\/p>\n<p>As of Feb. 27, the latest date for which data is available, the platforms tracked by Glassnode held a combined 2,272,798 BTC.<\/p>\n<p>It was in March 2018 that the number was previously so low, with March 2020 representing the current all-time high of 3,202,326 BTC.<\/p>\n<p>After the COVID-19 cross-market crash, exchange reserves began to fall, accelerating through the 2022 bear market to stand 29% lower today.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/aea3ee12-1a61-4bf6-a347-dfd5825280d2.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange balance chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>The impressive numbers, meanwhile, do not end there.<\/p>\n<p>As <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1630342732634902528\/photo\/1\">noted<\/a> by William Clemente, co-founder of Bitcoin-focused research firm Reflexivity, the exchange balance lows mean they now hold less BTC than the oldest hodler addresses.<\/p>\n<p>\u201cThere is now more Bitcoin that hasn\u2019t moved in at least 10 years than there is on exchanges. Wild stat,\u201d he commented on Feb. 28.<\/p>\n<p>Glassnode data also puts the total BTC dormant for ten years or more at 2,645,956 BTC \u2014 16% more than the total exchange balance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/d29167ef-873b-4302-88e5-dee8d94c50c5.png\"><figcaption style=\"text-align: center;\"><em>BTC supply last active 10+ years ago chart. Source: William Clemente\/ <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=\"No_panic_selling_here\"><\/span>No panic selling here<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, hodlers have stepped up their resilience in 2023 after weathering a brutal bear market in the past year.<\/p>\n<p><strong><em>Related:\u00a0BTC whale population shrinks to early 2020 levels \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Even as BTC price action headed higher, the hodling continued, with limited sales combined with increasing exposure.<\/p>\n<p>That trend shows little sign of reversing at current levels, with hodlers\u2019 combined net position change reaching four-month highs this weekend.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/a1a73569-c8a4-4eeb-ac73-8112412af453.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin hodler net position change chart. Source: Glassnode\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\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-exchanges-now-own-16-less-btc-than-the-oldest-hodlers\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin exchanges now own 16% less BTC than the oldest hodlers &#8220; The latest data shows that Bitcoin (BTC) exchanges have less BTC to buy than at any time since early 2018. On-chain analytics firm Glassnode confirms that as of February 2023, exchange reserves are at five-year lows. \u201cWild stat\u201d shows Bitcoin supply maturation&#8230;<\/p>\n","protected":false},"author":1,"featured_media":557555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/c0f27a43-e8ad-41e6-93fa-6d7850f9659b.JPG","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,73785],"class_list":["post-557554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/557554","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=557554"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/557554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/557555"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=557554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=557554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=557554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}